China BAK Battery (NASDAQ:CBAT) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• China BAK Battery stock has recently crossed above its 200-day moving average of $0.92, trading as high as $0.93, with the last traded price at $0.92.
• Wall Street analysts upgraded the stock from a "sell" to a "hold" rating, indicating a potential positive outlook for investors.
• The company reported a revenue of $40.52 million for its last quarter, exceeding the consensus estimate of $33.56 million.

China BAK Battery, Inc. (NASDAQ:CBAT - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.92 and traded as high as $0.93. China BAK Battery shares last traded at $0.92, with a volume of 68,605 shares trading hands.

Wall Street Analysts Forecast Growth

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

China BAK Battery Stock Down 0.8%

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 simple moving average of $1.01 and a 200-day simple moving average of $0.92. The company has a market capitalization of $81.82 million, a PE ratio of -9.23 and a beta of 1.88.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CBAT. XTX Topco Ltd acquired a new position in shares of China BAK Battery in the 1st quarter worth approximately $27,000. Empowered Funds LLC grew its position in shares of China BAK Battery by 8.7% in the 1st quarter. Empowered Funds LLC now owns 355,536 shares of the electronics maker's stock worth $283,000 after acquiring an additional 28,411 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its position in shares of China BAK Battery by 2.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 687,125 shares of the electronics maker's stock worth $646,000 after acquiring an additional 16,788 shares in the last quarter. 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.