CBAK Energy Technology, Inc. (NASDAQ:CBAT - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.87 and traded as high as $1.10. CBAK Energy Technology shares last traded at $1.09, with a volume of 197,691 shares traded.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen downgraded shares of CBAK Energy Technology from a "hold" rating to a "sell" rating in a report on Saturday, May 24th.
Check Out Our Latest Report on CBAK Energy Technology
CBAK Energy Technology Price Performance
The firm has a 50 day moving average of $0.82 and a 200-day moving average of $0.87. The stock has a market capitalization of $98.93 million, a P/E ratio of 9.17 and a beta of 1.73.
CBAK Energy Technology (NASDAQ:CBAT - Get Free Report) last released 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 for the quarter, compared to the consensus estimate 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, equities analysts expect that CBAK Energy Technology, Inc. will post 0.19 earnings per share for the current year.
Institutional Investors Weigh In On CBAK Energy Technology
Institutional investors and hedge funds have recently bought and sold shares of the business. Empowered Funds LLC increased its stake in CBAK Energy Technology by 5.4% in 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 period. Marshall Wace LLP acquired a new stake in CBAK Energy Technology during the fourth quarter valued at approximately $96,000. Bridgeway Capital Management LLC grew its stake in shares of CBAK Energy Technology by 2.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 687,125 shares of the electronics maker's stock valued at $646,000 after purchasing an additional 16,788 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of CBAK Energy Technology in the 1st quarter worth approximately $27,000. Institutional investors own 1.97% of the company's stock.
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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