CBAK Energy Technology, Inc. (NASDAQ:CBAT) Sees Significant Growth in Short Interest

CBAK Energy Technology, Inc. (NASDAQ:CBAT - Get Free Report) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 1,770,000 shares, a growth of 35.1% from the December 15th total of 1,310,000 shares. Approximately 2.5% of the company's stock are short sold. Based on an average trading volume of 569,300 shares, the short-interest ratio is currently 3.1 days.

Institutional Investors Weigh In On CBAK Energy Technology

A number of institutional investors have recently bought and sold shares of the business. PFG Investments LLC bought a new stake in CBAK Energy Technology in the 3rd quarter worth approximately $44,000. XTX Topco Ltd purchased a new stake in CBAK Energy Technology in the 3rd quarter worth about $46,000. Marshall Wace LLP bought a new stake in shares of CBAK Energy Technology during the 2nd quarter worth approximately $171,000. Finally, Empowered Funds LLC lifted its position in shares of CBAK Energy Technology by 5.4% during the third quarter. Empowered Funds LLC now owns 310,337 shares of the electronics maker's stock worth $388,000 after purchasing an additional 15,812 shares during the last quarter. Hedge funds and other institutional investors own 1.97% of the company's stock.

CBAK Energy Technology Trading Down 0.7 %

CBAK Energy Technology stock traded down $0.01 during mid-day trading on Thursday, hitting $0.91. The company had a trading volume of 266,007 shares, compared to its average volume of 522,421. CBAK Energy Technology has a 12 month low of $0.77 and a 12 month high of $2.08. The stock's 50 day moving average price is $0.93 and its two-hundred day moving average price is $1.05. The company has a market capitalization of $81.67 million, a PE ratio of 7.57 and a beta of 1.74.

About CBAK Energy Technology

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.