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

China BAK Battery, Inc. (NASDAQ:CBAT - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.95 and traded as high as $1.04. China BAK Battery shares last traded at $1.00, with a volume of 341,590 shares trading hands.

Wall Street Analysts Forecast Growth

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

China BAK Battery Stock Up 2.2%

The company has a quick ratio of 0.53, a current ratio of 0.72 and a debt-to-equity ratio of 0.04. The company's fifty day simple moving average is $0.94 and its 200 day simple moving average is $0.95. The firm has a market capitalization of $88.65 million, a PE ratio of -10.00 and a beta of 2.73.

China BAK Battery (NASDAQ:CBAT - Get Free Report) last issued its quarterly earnings data on Monday, August 18th. The electronics maker reported ($0.03) EPS 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 during the quarter, compared to analyst estimates of $33.56 million. Analysts anticipate that China BAK Battery, Inc. will post 0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On China BAK Battery

A hedge fund recently raised its stake in China BAK Battery stock. Empowered Funds LLC increased its stake in China BAK Battery, Inc. (NASDAQ:CBAT - Free Report) by 8.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 355,536 shares of the electronics maker's stock after buying an additional 28,411 shares during the period. Empowered Funds LLC owned 0.40% of China BAK Battery worth $283,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.