CBAK Energy Technology (NASDAQ:CBAT) Stock Price Passes Above 200 Day Moving Average of $0.97

CBAK Energy Technology, Inc. (NASDAQ:CBAT)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.97 and traded as high as $0.99. CBAK Energy Technology shares last traded at $0.95, with a volume of 111,861 shares traded.

CBAK Energy Technology Stock Performance

The firm’s 50 day moving average is $1.02 and its two-hundred day moving average is $0.97.

CBAK Energy Technology (NASDAQ:CBAT) last issued its quarterly earnings data on Friday, March 15th. The electronics maker reported ($0.06) earnings per share (EPS) for the quarter. CBAK Energy Technology had a negative net margin of 0.50% and a negative return on equity of 0.86%. The business had revenue of $56.18 million during the quarter, compared to analyst estimates of $58.86 million. On average, analysts forecast that CBAK Energy Technology, Inc. will post 0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CBAK Energy Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Atticus Wealth Management LLC bought a new position in CBAK Energy Technology during the 4th quarter worth about $58,000. State Street Corp raised its position in CBAK Energy Technology by 60.2% in the 3rd quarter. State Street Corp now owns 320,858 shares of the electronics maker’s stock valued at $369,000 after buying an additional 120,554 shares during the last quarter. Invesco Ltd. lifted its stake in CBAK Energy Technology by 59.1% in the 1st quarter. Invesco Ltd. now owns 108,825 shares of the electronics maker’s stock valued at $139,000 after acquiring an additional 40,420 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in CBAK Energy Technology by 94.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 91,519 shares of the electronics maker’s stock valued at $117,000 after acquiring an additional 44,529 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in CBAK Energy Technology by 31.8% during the 1st quarter. Jane Street Group LLC now owns 79,432 shares of the electronics maker’s stock worth $102,000 after acquiring an additional 19,149 shares during the last quarter. 1.97% of the stock is currently owned by institutional investors and hedge funds.

About CBAK Energy Technology

CBAK Energy Technology, Inc, together with its subsidiaries, manufactures and sells lithium batteries in Mainland China, the United States, Europe, and internationally. Its products are used in various applications, including electric vehicles, such as electric cars, electric buses, and hybrid electric cars and buses; light electric vehicles that include electric bicycles, electric motors, and sight-seeing cars; and electric tools, energy storage, uninterruptible power supply, and other high power applications, as well as cordless power tools.