CBAK Energy Technology, Inc. (NASDAQ:CBAT) Short Interest Update

CBAK Energy Technology, Inc. (NASDAQ:CBAT) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totalling 1,160,000 shares, an increase of 11.5% from the May 31st total of 1,040,000 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 254,900 shares, the days-to-cover ratio is currently 4.6 days.

Institutional Trading of CBAK Energy Technology

A hedge fund recently bought a new stake in CBAK Energy Technology stock. Atticus Wealth Management LLC acquired a new position in shares of CBAK Energy Technology, Inc. (NASDAQ:CBAT) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 55,000 shares of the electronics maker’s stock, valued at approximately $58,000. Atticus Wealth Management LLC owned approximately 0.06% of CBAK Energy Technology at the end of the most recent quarter. 1.97% of the stock is owned by hedge funds and other institutional investors.

CBAK Energy Technology Trading Up 1.2 %

Shares of CBAT stock traded up $0.01 during mid-day trading on Wednesday, reaching $1.26. The stock had a trading volume of 68,849 shares, compared to its average volume of 212,299. CBAK Energy Technology has a 12-month low of $0.76 and a 12-month high of $2.08. The company has a market cap of $112.87 million, a P/E ratio of 13.78 and a beta of 1.95. The business has a 50-day simple moving average of $1.36 and a 200 day simple moving average of $1.15.

CBAK Energy Technology (NASDAQ:CBAT) last posted its quarterly earnings data on Friday, May 10th. The electronics maker reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. The firm had revenue of $58.82 million during the quarter, compared to analysts’ expectations of $62.78 million. CBAK Energy Technology had a return on equity of 8.71% and a net margin of 4.62%. Research analysts anticipate that CBAK Energy Technology will post 0.32 EPS for the current year.

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.