CBAK Energy Technology, Inc. (NASDAQ:CBAT) Short Interest Up 35.1% in January

CBAK Energy Technology, Inc. (NASDAQ:CBAT) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 1,770,000 shares, an increase of 35.1% from the December 31st total of 1,310,000 shares. Based on an average daily volume of 569,300 shares, the days-to-cover ratio is currently 3.1 days. Currently, 2.5% of the shares of the stock are short sold.

Institutional Trading of CBAK Energy Technology

A number of large investors have recently made changes to their positions in the business. Empowered Funds LLC lifted its holdings in shares of CBAK Energy Technology by 5.4% in the 4th quarter. Empowered Funds LLC now owns 327,125 shares of the electronics maker’s stock valued at $307,000 after acquiring an additional 16,788 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of CBAK Energy Technology in the 2nd quarter valued at approximately $171,000. XTX Topco Ltd purchased a new position in shares of CBAK Energy Technology in the 3rd quarter worth approximately $46,000. Finally, PFG Investments LLC bought a new position in shares of CBAK Energy Technology during the 3rd quarter valued at approximately $44,000. 1.97% of the stock is currently owned by institutional investors.

CBAK Energy Technology Trading Up 1.5 %

Shares of CBAT stock traded up $0.01 on Thursday, reaching $0.90. The company’s stock had a trading volume of 42,925 shares, compared to its average volume of 368,496. The company has a market capitalization of $81.31 million, a price-to-earnings ratio of 7.53 and a beta of 1.74. The stock’s fifty day simple moving average is $0.91 and its 200-day simple moving average is $1.03. CBAK Energy Technology has a 1 year low of $0.77 and a 1 year high of $2.08.

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.