China BAK Battery (NASDAQ:CBAT) Share Price Passes Below 200 Day Moving Average - Here's What Happened

Key Points

• China BAK Battery's stock price fell below its 200-day moving average of $0.93, trading as low as $0.91, currently sitting at $1.03 with a trading volume of 1,731,271 shares.
• Analysts have reissued a "sell (d)" rating for China BAK Battery, reflecting overall negative sentiment with an average rating of "Sell" from research analysts.
• The company recently reported earnings with a loss of ($0.03) per share, exceeding expectations, and generated revenue of $40.52 million, surpassing the consensus estimate of $33.56 million.

China BAK Battery, Inc. (NASDAQ:CBAT - Get Free Report)'s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.93 and traded as low as $0.91. China BAK Battery shares last traded at $1.03, with a volume of 1,731,271 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of China BAK Battery in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of "Sell".

China BAK Battery Trading Up 15.4%

The firm has a market cap of $91.31 million, a P/E ratio of -10.30 and a beta of 2.73. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.53 and a current ratio of 0.72. The firm has a fifty day moving average of $0.93 and a 200-day moving average of $0.93.

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

Institutional Trading of China BAK Battery

An institutional investor recently bought a new position in China BAK Battery stock. XTX Topco Ltd acquired a new position in China BAK Battery, Inc. (NASDAQ:CBAT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 34,119 shares of the electronics maker's stock, valued at approximately $27,000. Institutional investors own 1.97% of the company's stock.

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.

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