China BAK Battery (NASDAQ:CBAT) Stock Crosses Below 200-Day Moving Average – Here’s Why

China BAK Battery, Inc. (NASDAQ:CBAT)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.98 and traded as low as $0.88. China BAK Battery shares last traded at $0.8660, with a volume of 73,942 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of China BAK Battery in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

China BAK Battery Price Performance

The firm has a market capitalization of $76.77 million, a P/E ratio of -12.37 and a beta of 1.10. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.69 and a quick ratio of 0.54. The stock’s fifty day simple moving average is $0.91 and its 200 day simple moving average is $0.98.

China BAK Battery (NASDAQ:CBAT) last released its quarterly earnings results on Monday, November 10th. The electronics maker reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.07. China BAK Battery had a negative net margin of 4.03% and a negative return on equity of 5.50%. The business had revenue of $60.92 million for the quarter, compared to analysts’ expectations of $39.27 million. On average, equities research analysts predict that China BAK Battery, Inc. will post 0.19 EPS for the current year.

Hedge Funds Weigh In On China BAK Battery

A hedge fund recently raised its stake in China BAK Battery stock. Empowered Funds LLC increased its holdings in shares of China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 355,536 shares of the electronics maker’s stock after buying an additional 28,411 shares during the quarter. Empowered Funds LLC owned 0.40% of China BAK Battery worth $283,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 1.97% of the stock is currently owned by hedge funds and other institutional investors.

China BAK Battery Company Profile

China BAK Battery Inc (NASDAQ: CBAT) is a China-based developer and manufacturer of rechargeable lithium-ion batteries and related power solutions. The company’s core product lines include small, medium and large format batteries, battery modules and pack assemblies designed for consumer electronics, electric vehicles, energy storage systems and other industrial applications. China BAK Battery offers polymer lithium-ion cells, prismatic and cylindrical cells, as well as integrated battery systems tailored to meet the performance requirements of its clients.

Founded in 2001 and headquartered in Shenzhen, China BAK Battery has expanded its manufacturing footprint and research and development capabilities over the years to serve customers across Asia, Europe and North America.