CBAK Energy Technology (NASDAQ:CBAT) Downgraded to Sell Rating by Wall Street Zen

CBAK Energy Technology (NASDAQ:CBAT - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

CBAK Energy Technology Price Performance

NASDAQ:CBAT traded up $0.03 during mid-day trading on Friday, reaching $0.88. 135,120 shares of the company's stock traded hands, compared to its average volume of 314,991. The company has a 50 day moving average price of $0.78 and a 200-day moving average price of $0.86. The firm has a market capitalization of $78.88 million, a price-to-earnings ratio of 7.31 and a beta of 1.66. CBAK Energy Technology has a 12-month low of $0.57 and a 12-month high of $2.08.

CBAK Energy Technology (NASDAQ:CBAT - Get Free Report) last posted its earnings results on Monday, May 19th. The electronics maker reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $34.94 million for the quarter, compared to analysts' expectations of $52.16 million. CBAK Energy Technology had a net margin of 6.25% and a return on equity of 10.55%. As a group, analysts forecast that CBAK Energy Technology will post 0.19 EPS for the current year.

Institutional Investors Weigh In On CBAK Energy Technology

Several institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd purchased a new position in shares of CBAK Energy Technology during the first quarter valued at about $27,000. Marshall Wace LLP purchased a new stake in CBAK Energy Technology in the fourth quarter worth about $96,000. Empowered Funds LLC boosted its position in CBAK Energy Technology by 8.7% during the 1st quarter. Empowered Funds LLC now owns 355,536 shares of the electronics maker's stock valued at $283,000 after acquiring an additional 28,411 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in shares of CBAK Energy Technology by 2.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 687,125 shares of the electronics maker's stock worth $646,000 after acquiring an additional 16,788 shares during the period. 1.97% of the stock is owned by hedge funds and other institutional investors.

About CBAK Energy Technology

CBAK Energy Technology, Inc, together with its subsidiaries, manufacture, commercialization, and distribution of lithium ion high power rechargeable batteries in Mainland China, the United States, Europe, and internationally. The company operates in two segments, CBAK and Hitrans. Its lithium batteries are used in various applications, including electric vehicles, such as electric cars, electric buses, and hybrid electric cars and buses; light electric vehicles, such as electric bicycles, electric motors, electric tricycles, and smaller-sized electric cars; and electric tools, energy storage, uninterruptible power supply, and other high power applications, as well as cordless power tools.