China BAK Battery (NASDAQ:CBAT) Shares Cross Above 200-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)'s stock price passed 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 Analyst Weigh In

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.

China BAK Battery Stock Down 2.4%

The company has a current ratio of 0.72, a quick ratio of 0.53 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $77.57 million, a PE ratio of -8.75 and a beta of 1.88. The stock's fifty day simple moving average is $0.99 and its 200-day simple moving average is $0.92.

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 analysts' consensus estimates 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 net margin of 6.29% and a negative return on equity of 7.54%. As a group, sell-side analysts forecast that China BAK Battery, Inc. will post 0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On China BAK Battery

An institutional investor recently raised its position 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 first quarter, according to its most recent filing with the SEC. The fund owned 355,536 shares of the electronics maker's stock after buying an additional 28,411 shares during the quarter. Empowered Funds LLC owned 0.40% of China BAK Battery worth $283,000 at the end of the most recent quarter. 1.97% of the stock is currently owned by institutional investors and hedge funds.

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.