Short Interest in CBAK Energy Technology, Inc. (NASDAQ:CBAT) Expands By 11.5%

CBAK Energy Technology, Inc. (NASDAQ:CBAT) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 1,160,000 shares, a growth of 11.5% from the May 31st total of 1,040,000 shares. Based on an average daily volume of 254,900 shares, the days-to-cover ratio is presently 4.6 days. Currently, 1.6% of the company’s stock are sold short.

Institutional Trading of 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 shares of CBAK Energy Technology, Inc. (NASDAQ:CBAT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 Securities and Exchange Commission (SEC). 1.97% of the stock is currently owned by hedge funds and other institutional investors.

CBAK Energy Technology Trading Down 12.4 %

NASDAQ:CBAT traded down $0.17 during mid-day trading on Monday, hitting $1.20. The company had a trading volume of 440,894 shares, compared to its average volume of 214,150. The business has a fifty day simple moving average of $1.35 and a 200-day simple moving average of $1.15. CBAK Energy Technology has a 1 year low of $0.76 and a 1 year high of $2.08. The firm has a market capitalization of $107.93 million, a price-to-earnings ratio of 13.33 and a beta of 1.95.

CBAK Energy Technology (NASDAQ:CBAT) last released its quarterly earnings data on Friday, May 10th. The electronics maker reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.12. CBAK Energy Technology had a return on equity of 8.71% and a net margin of 4.62%. The company had revenue of $58.82 million for the quarter, compared to analyst estimates of $62.78 million. As a group, research analysts anticipate that CBAK Energy Technology will post 0.32 earnings per share for the current year.

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.