CBAK Energy Technology (NASDAQ:CBAT) Upgraded by Wall Street Zen to “Hold” Rating

CBAK Energy Technology (NASDAQ:CBAT) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

CBAK Energy Technology Stock Performance

Shares of NASDAQ:CBAT opened at $1.21 on Friday. The company’s 50-day moving average is $0.85 and its 200 day moving average is $0.87. The company has a market capitalization of $108.83 million, a P/E ratio of 10.08 and a beta of 1.73. CBAK Energy Technology has a fifty-two week low of $0.57 and a fifty-two week high of $1.75.

CBAK Energy Technology (NASDAQ:CBAT) last released its quarterly earnings data on Monday, May 19th. The electronics maker reported ($0.02) EPS for the quarter. The business had revenue of $34.94 million for the quarter, compared to analysts’ expectations of $52.16 million. CBAK Energy Technology had a net margin of 6.25% and a return on equity of 10.55%. As a group, research analysts predict that CBAK Energy Technology will post 0.19 earnings per share for the current year.

Institutional Investors Weigh In On CBAK Energy Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC increased its position in shares of CBAK Energy Technology by 5.4% during the fourth quarter. Empowered Funds LLC now owns 327,125 shares of the electronics maker’s stock valued at $307,000 after buying an additional 16,788 shares during the period. Marshall Wace LLP bought a new stake in shares of CBAK Energy Technology during the fourth quarter valued at about $96,000. Bridgeway Capital Management LLC increased its position in shares of CBAK Energy Technology by 2.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 687,125 shares of the electronics maker’s stock valued at $646,000 after buying an additional 16,788 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of CBAK Energy Technology during the first quarter valued at about $27,000. 1.97% of the stock is currently owned by 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.