CBAK Energy Technology, Inc. (NASDAQ:CBAT) saw a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 4,590,000 shares, an increase of 22.4% from the November 15th total of 3,750,000 shares. Currently, 8.6% of the company’s shares are short sold. Based on an average daily trading volume, of 2,610,000 shares, the days-to-cover ratio is currently 1.8 days.
Shares of NASDAQ:CBAT traded down $0.05 during trading on Friday, hitting $1.78. 3,377,027 shares of the company’s stock were exchanged, compared to its average volume of 3,710,071. CBAK Energy Technology has a 1-year low of $1.67 and a 1-year high of $9.59. The firm has a 50-day moving average price of $2.12 and a two-hundred day moving average price of $3.07. The firm has a market cap of $157.89 million, a P/E ratio of 3.18 and a beta of 3.17.
CBAK Energy Technology (NASDAQ:CBAT) last issued its quarterly earnings results on Friday, November 12th. The electronics maker reported ($0.03) EPS for the quarter. The business had revenue of $9.56 million for the quarter. CBAK Energy Technology had a negative return on equity of 7.89% and a net margin of 119.23%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its stake in CBAK Energy Technology by 1,349.9% in the first quarter. Royal Bank of Canada now owns 8,250 shares of the electronics maker’s stock valued at $42,000 after buying an additional 7,681 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of CBAK Energy Technology in the third quarter worth $46,000. GSA Capital Partners LLP bought a new stake in shares of CBAK Energy Technology in the second quarter worth $56,000. Clear Creek Financial Management LLC bought a new stake in CBAK Energy Technology during the second quarter worth $70,000. Finally, Barclays PLC bought a new stake in CBAK Energy Technology during the third quarter worth $76,000. 5.73% of the stock is currently owned by hedge funds and other institutional investors.
CBAK Energy Technology Company Profile
CBAK Energy Technology, Inc engages in the manufacture, commercialization, and distribution of lithium ion rechargeable batteries. The firm offers aluminum-case cell, battery pack, cylindrical cell, lithium polymer cell, and high-power lithium battery cell types of Li-ion rechargeable batteries. Its products are used for electronic vehicles; light electric vehicles; and electric tools, energy storage, uninterruptible power supply, and high power applications.
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