China BAK Battery (NASDAQ:CBAT) Shares Pass Above 200-Day Moving Average - Should You Sell?

Key Points

• China BAK Battery shares surpassed their 200-day moving average of $0.93, trading as high as $0.98 with the last recorded price at $0.96.
• Analysts have mixed ratings on the stock, with one firm upgrading it to a "hold" and another reissuing a "sell" rating, leading to a consensus rating of "Sell."
• The company reported a quarterly earnings surprise, with $0.03 EPS compared to the expected ($0.04), and revenue of $40.52 million outpacing estimates.

China BAK Battery, Inc. (NASDAQ:CBAT - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.93 and traded as high as $0.98. China BAK Battery shares last traded at $0.96, with a volume of 681,816 shares.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CBAT. Wall Street Zen raised China BAK Battery from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Weiss Ratings reissued a "sell (d)" rating on shares of China BAK Battery in a report on Saturday, September 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of "Sell".

China BAK Battery Trading Up 8.5%

The company has a fifty day moving average of $0.93 and a 200-day moving average of $0.93. The firm has a market capitalization of $85.10 million, a PE ratio of -9.60 and a beta of 2.73. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.53.

China BAK Battery (NASDAQ:CBAT - Get Free Report) last issued its quarterly earnings results on Monday, August 18th. The electronics maker reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. The company 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%. On average, sell-side analysts anticipate that China BAK Battery, Inc. will post 0.19 earnings per share for the current fiscal year.

Institutional Trading of China BAK Battery

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

China BAK Battery 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.

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