Short Interest in CBAK Energy Technology, Inc. (NASDAQ:CBAT) Decreases By 18.1%

CBAK Energy Technology, Inc. (NASDAQ:CBAT) was the target of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 1,360,000 shares, a decrease of 18.1% from the January 15th total of 1,660,000 shares. Currently, 1.9% of the company’s shares are sold short. Based on an average daily volume of 554,800 shares, the days-to-cover ratio is presently 2.5 days.

CBAK Energy Technology Price Performance

Shares of CBAT stock traded down $0.03 during trading hours on Monday, hitting $0.87. The company had a trading volume of 226,059 shares, compared to its average volume of 227,346. The stock has a market capitalization of $78.41 million, a PE ratio of 7.27 and a beta of 1.70. The company’s fifty day moving average is $0.91 and its 200 day moving average is $0.99. CBAK Energy Technology has a fifty-two week low of $0.77 and a fifty-two week high of $2.08.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Empowered Funds LLC lifted its stake in CBAK Energy Technology by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 310,337 shares of the electronics maker’s stock worth $388,000 after acquiring an additional 15,812 shares in the last quarter. PFG Investments LLC acquired a new position in shares of CBAK Energy Technology in the third quarter worth $44,000. XTX Topco Ltd acquired a new stake in shares of CBAK Energy Technology in the third quarter valued at $46,000. Bridgeway Capital Management LLC boosted its holdings in CBAK Energy Technology by 2.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 687,125 shares of the electronics maker’s stock valued at $646,000 after purchasing an additional 16,788 shares during the period. Finally, Marshall Wace LLP acquired a new position in CBAK Energy Technology during the 4th quarter worth $96,000. 1.97% of the stock is currently owned by hedge funds and other institutional investors.

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.