CBAK Energy Technology (NASDAQ:CBAT) Lowered 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 note issued to investors on Saturday.

CBAK Energy Technology Stock Up 6.0%

NASDAQ:CBAT traded up $0.06 on Friday, hitting $1.00. The stock had a trading volume of 498,383 shares, compared to its average volume of 309,434. The business's fifty day moving average is $0.79 and its 200 day moving average is $0.86. The company has a market cap of $89.58 million, a PE ratio of 8.30 and a beta of 1.66. CBAK Energy Technology has a 52 week low of $0.57 and a 52 week 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 for the quarter. CBAK Energy Technology had a net margin of 6.25% and a return on equity of 10.55%. The company had revenue of $34.94 million during the quarter, compared to the consensus estimate of $52.16 million. Equities analysts predict that CBAK Energy Technology will post 0.19 earnings per share for the current fiscal year.

Institutional Trading of CBAK Energy Technology

Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd purchased a new stake in shares of CBAK Energy Technology during the first quarter valued at approximately $27,000. Marshall Wace LLP purchased a new stake in shares of CBAK Energy Technology during the fourth quarter valued at approximately $96,000. Empowered Funds LLC increased its position in shares of CBAK Energy Technology by 5.4% during the fourth quarter. Empowered Funds LLC now owns 327,125 shares of the electronics maker's stock valued at $307,000 after acquiring an additional 16,788 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its position in shares of CBAK Energy Technology by 2.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 687,125 shares of the electronics maker's stock valued at $646,000 after acquiring an additional 16,788 shares during the last quarter. 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.