China BAK Battery (NASDAQ:CBAT) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

China BAK Battery, Inc. (NASDAQ:CBAT) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.81 and traded as low as $0.5040. China BAK Battery shares last traded at $0.54, with a volume of 101,106 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of China BAK Battery in a report on Monday, April 20th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

China BAK Battery Stock Up 7.5%

The business’s 50 day moving average is $0.69 and its 200-day moving average is $0.81. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.65 and a quick ratio of 0.44. The company has a market cap of $47.87 million, a PE ratio of -3.00 and a beta of 1.31.

China BAK Battery (NASDAQ:CBAT) last announced its quarterly earnings data on Monday, May 18th. The electronics maker reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The firm had revenue of $69.62 million during the quarter, compared to analysts’ expectations of $70.23 million. China BAK Battery had a negative net margin of 7.43% and a negative return on equity of 15.32%. As a group, analysts predict that China BAK Battery, Inc. will post -0.11 EPS for the current year.

Institutional Trading of China BAK Battery

An institutional investor recently raised its position in China BAK Battery stock. Empowered Funds LLC boosted its holdings in China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 355,536 shares of the electronics maker’s stock after purchasing an additional 28,411 shares during the quarter. Empowered Funds LLC owned about 0.40% of China BAK Battery worth $283,000 as of its most recent SEC filing. 1.97% of the stock is owned by institutional investors.

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.