CBAK Energy Technology, Inc. (NASDAQ:CBAT – Get Free Report) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 1,080,000 shares, a growth of 10.5% from the September 30th total of 977,400 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average daily volume of 213,100 shares, the short-interest ratio is presently 5.1 days.
Hedge Funds Weigh In On CBAK Energy Technology
Several institutional investors and hedge funds have recently added to or reduced their stakes in CBAT. Marshall Wace LLP purchased a new stake in shares of CBAK Energy Technology in the second quarter valued at $171,000. PFG Investments LLC purchased a new stake in shares of CBAK Energy Technology in the third quarter valued at $44,000. Finally, Empowered Funds LLC lifted its holdings in shares of CBAK Energy Technology by 8.2% in the first quarter. Empowered Funds LLC now owns 273,285 shares of the electronics maker’s stock valued at $284,000 after purchasing an additional 20,650 shares in the last quarter. 1.97% of the stock is currently owned by hedge funds and other institutional investors.
CBAK Energy Technology Stock Up 2.7 %
Shares of NASDAQ CBAT traded up $0.03 during mid-day trading on Wednesday, hitting $1.13. 107,199 shares of the company traded hands, compared to its average volume of 210,017. CBAK Energy Technology has a 1 year low of $0.78 and a 1 year high of $2.08. The stock has a market capitalization of $101.63 million, a price-to-earnings ratio of 12.22 and a beta of 1.87. The business has a 50 day moving average of $1.06 and a two-hundred day moving average of $1.19.
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.
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