China BAK Battery, Inc. (NASDAQ:CBAT - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.91 and traded as high as $1.11. China BAK Battery shares last traded at $1.07, with a volume of 121,457 shares traded.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen upgraded shares of China BAK Battery from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th.
Check Out Our Latest Stock Report on CBAT
China BAK Battery Price Performance
The company's 50 day simple moving average is $1.07 and its 200 day simple moving average is $0.91. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.82 and a quick ratio of 0.64.
China BAK Battery (NASDAQ:CBAT - Get Free Report) last issued its earnings results on Monday, May 19th. The electronics maker reported ($0.02) EPS for the quarter. The firm had revenue of $34.94 million for the quarter, compared to analyst estimates of $52.16 million. China BAK Battery had a return on equity of 0.30% and a net margin of 0.25%. On average, sell-side 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
Institutional investors and hedge funds have recently modified their holdings of the company. Empowered Funds LLC lifted its position in China BAK Battery 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 acquiring an additional 28,411 shares during the last quarter. XTX Topco Ltd purchased a new stake in China BAK Battery in the first quarter valued at $27,000. Bridgeway Capital Management LLC lifted its position in China BAK Battery 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 acquiring an additional 16,788 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in China BAK Battery in the fourth quarter valued at $96,000. Institutional investors and hedge funds own 1.97% of the company's stock.
China BAK Battery Company Profile
(
Get Free Report)
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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