CBAK Energy Technology (NASDAQ:CBAT) Upgraded at Wall Street Zen

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

CBAK Energy Technology Stock Performance

CBAT traded down $0.02 during trading on Friday, hitting $1.21. The stock had a trading volume of 360,469 shares, compared to its average volume of 298,373. 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 has a twelve month low of $0.57 and a twelve month high of $1.75. The stock has a 50 day simple moving average of $0.85 and a two-hundred day simple moving average of $0.87.

CBAK Energy Technology (NASDAQ:CBAT - Get Free Report) last announced its earnings results on Monday, May 19th. The electronics maker reported ($0.02) earnings per share for the quarter. The firm had revenue of $34.94 million during the quarter, compared to analyst estimates 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 research analysts anticipate that CBAK Energy Technology will post 0.19 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CBAT. XTX Topco Ltd purchased a new position in shares of CBAK Energy Technology during the first quarter worth $27,000. Marshall Wace LLP acquired a new stake in shares of CBAK Energy Technology in the fourth quarter valued at about $96,000. Empowered Funds LLC grew 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 purchasing an additional 28,411 shares during the period. Finally, Bridgeway Capital Management LLC grew its position 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 valued at $646,000 after purchasing an additional 16,788 shares during the period. Hedge funds and other institutional investors own 1.97% of the company's stock.

CBAK Energy Technology Company Profile

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.