China BAK Battery, Inc. (NASDAQ:CBAT) Short Interest Down 22.2% in August

Key Points

• China BAK Battery, Inc. (NASDAQ:CBAT) experienced a 22.2% decline in short interest from mid-August to the end of August, dropping to 980,900 shares.
• An institutional investor, XTX Topco Ltd, has recently acquired 34,119 shares of China BAK Battery stock, valued around $27,000.
• Wall Street analysts upgraded the company's rating from "sell" to "hold", indicating a more favorable outlook on its performance.

China BAK Battery, Inc. (NASDAQ:CBAT - Get Free Report) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totaling 980,900 shares, a decrease of 22.2% from the August 15th total of 1,260,000 shares. Based on an average trading volume of 205,000 shares, the short-interest ratio is presently 4.8 days. Approximately 1.4% of the company's stock are sold short. Approximately 1.4% of the company's stock are sold short. Based on an average trading volume of 205,000 shares, the short-interest ratio is presently 4.8 days.

Institutional Investors Weigh In On China BAK Battery

A hedge fund recently bought a new stake in China BAK Battery stock. XTX Topco Ltd acquired a new stake in shares of China BAK Battery, Inc. (NASDAQ:CBAT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 34,119 shares of the electronics maker's stock, valued at approximately $27,000. 1.97% of the stock is owned by institutional investors and hedge funds.

China BAK Battery Stock Performance

Shares of CBAT traded up $0.04 on Thursday, reaching $0.91. The company's stock had a trading volume of 171,567 shares, compared to its average volume of 197,219. China BAK Battery has a 12-month low of $0.57 and a 12-month high of $1.30. The stock has a market capitalization of $80.67 million, a P/E ratio of -9.10 and a beta of 1.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.53. The stock's 50 day simple moving average is $0.96 and its two-hundred day simple moving average is $0.93.

China BAK Battery (NASDAQ:CBAT - Get Free Report) last released its quarterly earnings results on Monday, August 18th. The electronics maker reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. China BAK Battery had a negative net margin of 6.29% and a negative return on equity of 7.54%. The business had revenue of $40.52 million for the quarter, compared to the consensus estimate of $33.56 million. Research analysts forecast that China BAK Battery will post 0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of China BAK Battery from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th.

About China BAK Battery

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.