Short Interest in CBAK Energy Technology, Inc. (NASDAQ:CBAT) Rises By 10.5%

CBAK Energy Technology, Inc. (NASDAQ:CBAT) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 1,080,000 shares, an increase of 10.5% from the September 30th total of 977,400 shares. Based on an average daily volume of 213,100 shares, the days-to-cover ratio is presently 5.1 days. Currently, 1.5% of the shares of the company are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC lifted its holdings in CBAK Energy Technology by 8.2% in the first quarter. Empowered Funds LLC now owns 273,285 shares of the electronics maker’s stock worth $284,000 after purchasing an additional 20,650 shares during the period. Marshall Wace LLP bought a new stake in shares of CBAK Energy Technology during the 2nd quarter worth about $171,000. Finally, PFG Investments LLC acquired a new stake in shares of CBAK Energy Technology in the 3rd quarter worth approximately $44,000. Institutional investors own 1.97% of the company’s stock.

CBAK Energy Technology Trading Down 3.1 %

CBAK Energy Technology stock traded down $0.03 during midday trading on Tuesday, reaching $1.10. 300,739 shares of the stock traded hands, compared to its average volume of 210,503. The firm has a fifty day moving average price of $1.06 and a two-hundred day moving average price of $1.19. CBAK Energy Technology has a fifty-two week low of $0.78 and a fifty-two week high of $2.08. The firm has a market cap of $98.93 million, a price-to-earnings ratio of 12.61 and a beta of 1.87.

CBAK Energy Technology (NASDAQ:CBAT) last issued its quarterly earnings data on Friday, August 9th. The electronics maker reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. CBAK Energy Technology had a return on equity of 16.04% and a net margin of 8.52%. The business had revenue of $47.79 million during the quarter, compared to the consensus estimate of $62.57 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. Analysts anticipate that CBAK Energy Technology will post 0.31 earnings per share 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.