CBAK Energy Technology (NASDAQ:CBAT) Share Price Passes Above 200-Day Moving Average of $0.98

CBAK Energy Technology, Inc. (NASDAQ:CBAT)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.98 and traded as high as $1.06. CBAK Energy Technology shares last traded at $1.05, with a volume of 73,818 shares traded.

CBAK Energy Technology Price Performance

The stock has a 50-day simple moving average of $1.02 and a two-hundred day simple moving average of $0.98.

CBAK Energy Technology (NASDAQ:CBAT) last issued its earnings results on Friday, March 15th. The electronics maker reported ($0.06) earnings per share for the quarter. CBAK Energy Technology had a negative return on equity of 0.86% and a negative net margin of 0.50%. The business had revenue of $56.18 million during the quarter, compared to analysts’ expectations of $58.86 million. As a group, equities analysts forecast that CBAK Energy Technology, Inc. will post 0.02 earnings per share for the current year.

Hedge Funds Weigh In On CBAK Energy Technology

An institutional investor recently bought a new position in CBAK Energy Technology stock. Atticus Wealth Management LLC bought a new position in CBAK Energy Technology, Inc. (NASDAQ:CBAT) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 55,000 shares of the electronics maker’s stock, valued at approximately $58,000. Atticus Wealth Management LLC owned about 0.06% of CBAK Energy Technology as of its most recent filing with the SEC. 1.97% of the stock is owned by hedge funds and other institutional investors.

CBAK Energy Technology Company Profile

CBAK Energy Technology, Inc, together with its subsidiaries, manufactures and sells lithium batteries in Mainland China, the United States, Europe, and internationally. Its products are used in various applications, including electric vehicles, such as electric cars, electric buses, and hybrid electric cars and buses; light electric vehicles that include electric bicycles, electric motors, and sight-seeing cars; and electric tools, energy storage, uninterruptible power supply, and other high power applications, as well as cordless power tools.