CBAK Energy Technology, Inc. (NASDAQ:CBAT) Short Interest Down 18.1% in January

CBAK Energy Technology, Inc. (NASDAQ:CBAT - Get Free Report) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 1,360,000 shares, a decrease of 18.1% from the January 15th total of 1,660,000 shares. Currently, 1.9% of the shares of the company are sold short. Based on an average trading volume of 554,800 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC lifted its stake in shares of CBAK Energy Technology by 5.4% in the third quarter. Empowered Funds LLC now owns 310,337 shares of the electronics maker's stock valued at $388,000 after buying an additional 15,812 shares during the period. PFG Investments LLC bought a new position in CBAK Energy Technology during the third quarter valued at about $44,000. XTX Topco Ltd bought a new stake in shares of CBAK Energy Technology in the 3rd quarter worth approximately $46,000. Bridgeway Capital Management LLC lifted its position in shares of CBAK Energy Technology by 2.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 687,125 shares of the electronics maker's stock worth $646,000 after acquiring an additional 16,788 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of CBAK Energy Technology during the fourth quarter valued at approximately $96,000. Institutional investors own 1.97% of the company's stock.

CBAK Energy Technology Price Performance

Shares of CBAK Energy Technology stock traded down $0.01 during midday trading on Friday, hitting $0.86. The company had a trading volume of 281,282 shares, compared to its average volume of 301,917. CBAK Energy Technology has a 1-year low of $0.77 and a 1-year high of $2.08. The business's 50 day simple moving average is $0.91 and its two-hundred day simple moving average is $0.98. The stock has a market cap of $77.35 million, a PE ratio of 7.17 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.