CBAK Energy Technology, Inc. (NASDAQ:CBAT) Short Interest Update

CBAK Energy Technology, Inc. (NASDAQ:CBAT - Get Free Report) saw a large increase in short interest in October. As of October 15th, there was short interest totalling 1,080,000 shares, an increase of 10.5% from the September 30th total of 977,400 shares. Based on an average trading volume of 213,100 shares, the short-interest ratio is presently 5.1 days. Currently, 1.5% of the company's stock are sold short.

CBAK Energy Technology Stock Down 3.1 %

Shares of CBAT traded down $0.03 during midday trading on Tuesday, hitting $1.10. The company had a trading volume of 300,739 shares, compared to its average volume of 210,503. The stock has a market cap of $98.93 million, a price-to-earnings ratio of 12.61 and a beta of 1.87. The company's 50 day moving average price is $1.06 and its 200 day moving average price is $1.19. CBAK Energy Technology has a 52 week low of $0.78 and a 52 week high of $2.08.

CBAK Energy Technology (NASDAQ:CBAT - Get Free Report) last announced its quarterly earnings data on Friday, August 9th. The electronics maker reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The firm had revenue of $47.79 million during the quarter, compared to analyst estimates of $62.57 million. CBAK Energy Technology had a return on equity of 16.04% and a net margin of 8.52%. During the same period in the previous year, the company earned ($0.03) earnings per share. Equities analysts anticipate that CBAK Energy Technology will post 0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On CBAK Energy Technology

Large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in CBAK Energy Technology during the second quarter valued at $171,000. PFG Investments LLC acquired a new stake in CBAK Energy Technology during the third quarter worth about $44,000. Finally, Empowered Funds LLC lifted its holdings in CBAK Energy Technology by 8.2% in the first quarter. Empowered Funds LLC now owns 273,285 shares of the electronics maker's stock worth $284,000 after acquiring an additional 20,650 shares during the last quarter. 1.97% of the stock is currently owned by institutional investors.

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.

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