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

China BAK Battery, Inc. (NASDAQ:CBAT) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 203,647 shares, a growth of 69.8% from the April 30th total of 119,902 shares. Based on an average daily volume of 65,938 shares, the days-to-cover ratio is currently 3.1 days. Approximately 0.2% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of China BAK Battery in a research note on Monday, April 20th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On China BAK Battery

An institutional investor recently raised its position in China BAK Battery stock. Empowered Funds LLC grew its position in shares of China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 355,536 shares of the electronics maker’s stock after buying an additional 28,411 shares during the quarter. Empowered Funds LLC owned 0.40% of China BAK Battery worth $283,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 1.97% of the company’s stock.

China BAK Battery Stock Down 2.3%

Shares of China BAK Battery stock traded down $0.02 on Wednesday, hitting $0.77. The company had a trading volume of 19,211 shares, compared to its average volume of 134,454. China BAK Battery has a 1 year low of $0.70 and a 1 year high of $1.25. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.44 and a current ratio of 0.65. The stock has a 50 day moving average of $0.80 and a 200-day moving average of $0.87. The stock has a market capitalization of $68.54 million, a price-to-earnings ratio of -4.29 and a beta of 1.29.

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

China BAK Battery Company Profile

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.