CBAK Energy Technology, Inc. (NASDAQ:CBAT) Short Interest Down 8.1% in November

CBAK Energy Technology, Inc. (NASDAQ:CBAT - Get Free Report) was the recipient of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 1,240,000 shares, a decline of 8.1% from the November 15th total of 1,350,000 shares. Based on an average daily trading volume, of 266,500 shares, the days-to-cover ratio is currently 4.7 days. Approximately 1.7% of the shares of the stock are sold short.

Institutional Trading of CBAK Energy Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC raised its holdings in CBAK Energy Technology by 5.4% in the 3rd 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 last quarter. Marshall Wace LLP bought a new position in shares of CBAK Energy Technology during the second quarter valued at $171,000. XTX Topco Ltd acquired a new position in shares of CBAK Energy Technology during the third quarter worth $46,000. Finally, PFG Investments LLC bought a new stake in shares of CBAK Energy Technology in the third quarter worth $44,000. 1.97% of the stock is currently owned by institutional investors.

CBAK Energy Technology Price Performance

Shares of NASDAQ:CBAT remained flat at $0.84 during trading on Monday. 518,957 shares of the stock traded hands, compared to its average volume of 220,480. CBAK Energy Technology has a 52 week low of $0.82 and a 52 week high of $2.08. The firm has a market cap of $75.24 million, a P/E ratio of 6.92 and a beta of 1.78. The stock has a fifty day simple moving average of $1.01 and a 200 day simple moving average of $1.15.

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.