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

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

Institutional Inflows and Outflows

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

CBAK Energy Technology Stock Down 0.5 %

NASDAQ CBAT traded down $0.00 during trading on Monday, hitting $0.94. 162,262 shares of the stock traded hands, compared to its average volume of 364,221. CBAK Energy Technology has a 12-month low of $0.77 and a 12-month high of $2.08. The firm has a 50-day simple moving average of $0.92 and a 200-day simple moving average of $1.02. The company has a market capitalization of $84.72 million, a P/E ratio of 7.82 and a beta of 1.70.

CBAK Energy Technology 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.