China BAK Battery (NASDAQ:CBAT) Stock Passes Below 200 Day Moving Average - Here's Why

Key Points

• China BAK Battery's stock passed below its 200‑day moving average of $0.90, trading as low as $0.8204 and last at $0.8326 on Monday with about 61,942 shares traded.
• The company missed quarter estimates, reporting EPS of ($0.08) versus a ($0.03) consensus and revenue of $58.8M versus $64.57M expected, leaving negative ROE and net margin and a market cap of roughly $73.8M.
• Analyst sentiment is negative—Weiss Ratings reiterated a “Sell” and the stock's average rating is Sell—while institutional ownership is low (about 1.97%), though Empowered Funds modestly raised its stake to 355,536 shares (0.40%).

China BAK Battery, Inc. (NASDAQ:CBAT - Get Free Report)'s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.90 and traded as low as $0.8204. China BAK Battery shares last traded at $0.8326, with a volume of 61,942 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of China BAK Battery in a report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of "Sell".

China BAK Battery Stock Performance

The stock has a fifty day simple moving average of $0.92 and a 200-day simple moving average of $0.90. The stock has a market cap of $73.81 million, a P/E ratio of -8.33 and a beta of 1.36. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.43 and a current ratio of 0.60.

China BAK Battery (NASDAQ:CBAT - Get Free Report) last released its earnings results on Monday, March 30th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.05). The firm had revenue of $58.80 million for the quarter, compared to the consensus estimate of $64.57 million. China BAK Battery had a negative return on equity of 8.11% and a negative net margin of 4.80%. On average, equities analysts expect that China BAK Battery, Inc. will post -0.01 earnings per share for the current year.

Hedge Funds Weigh In On China BAK Battery

A hedge fund recently raised its stake in China BAK Battery stock. Empowered Funds LLC grew its stake in China BAK Battery, Inc. (NASDAQ:CBAT - Free Report) by 8.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 355,536 shares of the electronics maker's stock after acquiring an additional 28,411 shares during the period. Empowered Funds LLC owned 0.40% of China BAK Battery worth $283,000 at the end of the most recent quarter. Institutional investors and hedge funds own 1.97% of the company's stock.

About China BAK Battery

China BAK Battery Inc NASDAQ: CBAT is a China-based developer and manufacturer of rechargeable lithium-ion batteries and related power solutions. The company's core product lines include small, medium and large format batteries, battery modules and pack assemblies designed for consumer electronics, electric vehicles, energy storage systems and other industrial applications. China BAK Battery offers polymer lithium-ion cells, prismatic and cylindrical cells, as well as integrated battery systems tailored to meet the performance requirements of its clients.

Founded in 2001 and headquartered in Shenzhen, China BAK Battery has expanded its manufacturing footprint and research and development capabilities over the years to serve customers across Asia, Europe and North America.

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