CBAK Energy Technology, Inc. (NASDAQ:CBAT) Short Interest Up 20.5% in November

CBAK Energy Technology, Inc. (NASDAQ:CBAT) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,350,000 shares, a growth of 20.5% from the October 31st total of 1,120,000 shares. Based on an average daily volume of 249,800 shares, the short-interest ratio is currently 5.4 days. Currently, 1.9% of the company’s shares are sold short.

Institutional Trading of CBAK Energy Technology

Institutional investors have recently bought and sold shares of the company. Empowered Funds LLC raised its position in shares of CBAK Energy Technology by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 310,337 shares of the electronics maker’s stock worth $388,000 after acquiring an additional 15,812 shares in the last quarter. Marshall Wace LLP acquired a new stake in CBAK Energy Technology during the second quarter worth approximately $171,000. PFG Investments LLC bought a new stake in CBAK Energy Technology in the third quarter worth approximately $44,000. Finally, XTX Topco Ltd acquired a new position in CBAK Energy Technology in the third quarter valued at approximately $46,000. Institutional investors own 1.97% of the company’s stock.

CBAK Energy Technology Price Performance

Shares of CBAT traded down $0.01 during trading hours on Friday, hitting $0.94. 310,340 shares of the stock were exchanged, compared to its average volume of 267,240. CBAK Energy Technology has a fifty-two week low of $0.82 and a fifty-two week high of $2.08. The business has a 50-day moving average of $1.05 and a 200-day moving average of $1.18. The firm has a market capitalization of $84.80 million, a P/E ratio of 7.86 and a beta of 1.91.

About CBAK Energy Technology

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.