CBAK Energy Technology, Inc. (NASDAQ:CBAT) Short Interest Up 5.6% in December

CBAK Energy Technology, Inc. (NASDAQ:CBAT - Get Free Report) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 1,310,000 shares, an increase of 5.6% from the November 30th total of 1,240,000 shares. Based on an average trading volume of 289,500 shares, the days-to-cover ratio is currently 4.5 days. Currently, 1.8% of the company's stock are short sold.

CBAK Energy Technology Price Performance

Shares of CBAT stock traded down $0.14 on Wednesday, reaching $0.94. 2,204,157 shares of the company were exchanged, compared to its average volume of 288,729. CBAK Energy Technology has a one year low of $0.77 and a one year high of $2.08. The company has a market cap of $84.54 million, a price-to-earnings ratio of 7.83 and a beta of 1.78. The company has a 50-day moving average of $0.95 and a 200-day moving average of $1.08.

Institutional Investors Weigh In On CBAK Energy Technology

A number of hedge funds have recently added to or reduced their stakes in CBAT. Empowered Funds LLC lifted its holdings in shares of CBAK Energy Technology by 5.4% in the 3rd 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 in the last quarter. PFG Investments LLC bought a new position in shares of CBAK Energy Technology in the third quarter valued at $44,000. XTX Topco Ltd acquired a new position in shares of CBAK Energy Technology during the third quarter valued at about $46,000. Finally, Marshall Wace LLP acquired a new position in shares of CBAK Energy Technology during the second quarter valued at about $171,000. Institutional investors and hedge funds own 1.97% of the company's stock.

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.