CBAK Energy Technology (NASDAQ:CBAT) Stock Crosses Above 200-Day Moving Average - Should You Sell?

Shares of CBAK Energy Technology, Inc. (NASDAQ:CBAT - Get Free Report) crossed 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 changing hands.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of CBAK Energy Technology from a "sell" rating to a "hold" rating in a research report on Saturday.

CBAK Energy Technology Trading Down 1.6%

The firm has a fifty day moving average of $0.85 and a two-hundred day moving average of $0.87. The company has a market capitalization of $108.83 million, a PE ratio of 10.08 and a beta of 1.73.

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 for the quarter. The company had revenue of $34.94 million during 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%. On average, equities analysts expect that CBAK Energy Technology, Inc. will post 0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On CBAK Energy Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBAT. Empowered Funds LLC increased its position in shares of CBAK Energy Technology by 8.7% in the first 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 during the period. XTX Topco Ltd purchased a new stake in shares of CBAK Energy Technology during the first quarter worth about $27,000. Bridgeway Capital Management LLC grew its stake in shares of CBAK Energy Technology by 2.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 687,125 shares of the electronics maker's stock worth $646,000 after purchasing an additional 16,788 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in CBAK Energy Technology during the 4th quarter valued at about $96,000. 1.97% of the stock is currently owned by 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.