China BAK Battery, Inc. (NASDAQ:CBAT) Short Interest Update

China BAK Battery, Inc. (NASDAQ:CBAT) was the recipient of a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 328,412 shares, a growth of 133.2% from the January 29th total of 140,849 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily volume of 195,398 shares, the days-to-cover ratio is currently 1.7 days. Based on an average daily volume of 195,398 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.4% of the company’s shares are sold short.

China BAK Battery Price Performance

Shares of CBAT opened at $1.02 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.54 and a current ratio of 0.69. The company has a 50 day moving average price of $0.88 and a 200-day moving average price of $0.91. China BAK Battery has a fifty-two week low of $0.57 and a fifty-two week high of $1.25. The stock has a market capitalization of $90.42 million, a PE ratio of -14.57 and a beta of 1.30.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in China BAK Battery stock. Empowered Funds LLC lifted its stake in China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 355,536 shares of the electronics maker’s stock after acquiring an additional 28,411 shares during the period. Empowered Funds LLC owned 0.40% of China BAK Battery worth $283,000 at the end of the most recent quarter. 1.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of China BAK Battery in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, China BAK Battery currently has a consensus rating of “Sell”.

About China BAK Battery

China BAK Battery Inc (NASDAQ: CBAT) is a China-based developer and manufacturer of rechargeable lithium-ion batteries and related power solutions. The company’s core product lines include small, medium and large format batteries, battery modules and pack assemblies designed for consumer electronics, electric vehicles, energy storage systems and other industrial applications. China BAK Battery offers polymer lithium-ion cells, prismatic and cylindrical cells, as well as integrated battery systems tailored to meet the performance requirements of its clients.

Founded in 2001 and headquartered in Shenzhen, China BAK Battery has expanded its manufacturing footprint and research and development capabilities over the years to serve customers across Asia, Europe and North America.