China BAK Battery's (CBAT) "Sell (D)" Rating Reaffirmed at Weiss Ratings

Key Points

• China BAK Battery's stock has been reaffirmed with a "sell (D)" rating by Weiss Ratings, indicating ongoing concerns about the company's performance.
• Despite the negative outlook, Wall Street Zen has upgraded the stock from "sell" to "hold," reflecting a more optimistic view among some analysts.
• China BAK Battery reported a quarterly loss of ($0.03) EPS, surpassing the consensus estimate, with revenues of $40.52 million, which were above analyst expectations of $33.56 million.

China BAK Battery (NASDAQ:CBAT - Get Free Report)'s stock had its "sell (d)" rating reissued by analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen raised China BAK Battery from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, China BAK Battery has an average rating of "Sell".

China BAK Battery Stock Up 1.5%

CBAT stock traded up $0.01 during midday trading on Wednesday, reaching $0.96. 137,194 shares of the company's stock traded hands, compared to its average volume of 214,947. The stock's 50-day moving average is $0.93 and its 200 day moving average is $0.93. China BAK Battery has a 52-week low of $0.57 and a 52-week high of $1.28. The company has a quick ratio of 0.53, a current ratio of 0.72 and a debt-to-equity ratio of 0.04.

China BAK Battery (NASDAQ:CBAT - Get Free Report) last posted 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. The firm had revenue of $40.52 million during the quarter, compared to analyst estimates of $33.56 million. China BAK Battery had a negative return on equity of 7.54% and a negative net margin of 6.29%. As a group, sell-side analysts expect that China BAK Battery will post 0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On China BAK Battery

An institutional investor recently bought a new position in China BAK Battery stock. XTX Topco Ltd purchased a new stake in shares of China BAK Battery, Inc. (NASDAQ:CBAT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 34,119 shares of the electronics maker's stock, valued at approximately $27,000. 1.97% of the stock is currently owned by hedge funds and other institutional investors.

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.

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