CBAK Energy Technology (NASDAQ:CBAT) Shares Cross Below 200 Day Moving Average of $1.16

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CBAK Energy Technology, Inc. (NASDAQ:CBAT – Get Free Report) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.16 and traded as low as $1.16. CBAK Energy Technology shares last traded at $1.23, with a volume of 117,495 shares changing hands.

CBAK Energy Technology Trading Up 5.9 %

The stock has a market cap of $110.50 million, a P/E ratio of 13.65 and a beta of 1.95. The firm has a 50-day simple moving average of $1.37 and a two-hundred day simple moving average of $1.16.

CBAK Energy Technology (NASDAQ:CBAT – Get Free Report) last released its quarterly earnings results on Friday, May 10th. The electronics maker reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. The business had revenue of $58.82 million for the quarter, compared to analyst estimates of $62.78 million. CBAK Energy Technology had a net margin of 4.62% and a return on equity of 8.71%. Sell-side analysts predict that CBAK Energy Technology, Inc. will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On CBAK Energy Technology

An institutional investor recently raised its position in CBAK Energy Technology stock. Empowered Funds LLC lifted its stake in shares of CBAK Energy Technology, Inc. (NASDAQ:CBAT – Free Report) by 8.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 273,285 shares of the electronics maker’s stock after purchasing an additional 20,650 shares during the quarter. Empowered Funds LLC owned 0.30% of CBAK Energy Technology worth $284,000 as of its most recent SEC filing. Institutional investors own 1.97% of the company’s stock.

CBAK Energy Technology Company Profile

(Get Free Report)

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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