China BAK Battery, Inc. (NASDAQ:CBAT) Short Interest Down 65.9% in March

China BAK Battery, Inc. (NASDAQ:CBAT) was the target of a significant drop in short interest in March. As of March 13th, there was short interest totaling 122,784 shares, a drop of 65.9% from the February 26th total of 360,147 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 175,774 shares, the short-interest ratio is presently 0.7 days.

China BAK Battery Stock Performance

Shares of NASDAQ CBAT opened at $0.83 on Thursday. 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 stock has a 50 day moving average price of $0.92 and a 200 day moving average price of $0.91. The stock has a market capitalization of $73.58 million, a PE ratio of -11.86 and a beta of 1.26. China BAK Battery has a 52 week low of $0.57 and a 52 week high of $1.25.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of China BAK Battery in a research note on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, China BAK Battery presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On China BAK Battery

A hedge fund recently raised its stake in China BAK Battery stock. Empowered Funds LLC boosted its position in shares of China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% during the 1st quarter, according to its most recent Form 13F 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 quarter. Empowered Funds LLC owned 0.40% of China BAK Battery worth $283,000 at the end of the most recent reporting period. 1.97% of the stock is owned by institutional investors and hedge funds.

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.