CBAK Energy Technology, Inc. (NASDAQ:CBAT - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.86 and traded as high as $1.02. CBAK Energy Technology shares last traded at $1.01, with a volume of 343,476 shares.
Analyst Ratings Changes
Separately, Wall Street Zen downgraded shares of CBAK Energy Technology from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th.
Get Our Latest Report on CBAT
CBAK Energy Technology Trading Up 5.9%
The company's 50 day moving average price is $0.79 and its two-hundred day moving average price is $0.86. The firm has a market cap of $97.14 million, a PE ratio of 9.00 and a beta of 1.66.
CBAK Energy Technology (NASDAQ:CBAT - Get Free Report) last announced its quarterly earnings data on Monday, May 19th. The electronics maker reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $34.94 million during the quarter, compared to analysts' expectations of $52.16 million. CBAK Energy Technology had a return on equity of 10.55% and a net margin of 6.25%. Equities research analysts expect that CBAK Energy Technology, Inc. will post 0.19 earnings per share for the current fiscal year.
Institutional Trading of CBAK Energy Technology
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Empowered Funds LLC increased its stake in shares of CBAK Energy Technology by 5.4% in the fourth quarter. Empowered Funds LLC now owns 327,125 shares of the electronics maker's stock worth $307,000 after purchasing an additional 16,788 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in 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 in the last quarter. XTX Topco Ltd purchased a new position in CBAK Energy Technology during the first quarter valued at $27,000. Finally, Marshall Wace LLP purchased a new position in CBAK Energy Technology during the fourth quarter valued at $96,000. 1.97% of the stock is owned by hedge funds and other institutional investors.
About CBAK Energy Technology
(
Get Free Report)
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.
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