China BAK Battery (NASDAQ:CBAT) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

China BAK Battery, Inc. (NASDAQ:CBAT)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.91 and traded as high as $1.04. China BAK Battery shares last traded at $1.03, with a volume of 87,053 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of China BAK Battery in a report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

China BAK Battery Price Performance

The firm has a market capitalization of $91.31 million, a PE ratio of -14.71 and a beta of 1.26. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average price of $0.92 and a two-hundred day moving average price of $0.91.

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 China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 355,536 shares of the electronics maker’s stock after acquiring an additional 28,411 shares during the quarter. Empowered Funds LLC owned approximately 0.40% of China BAK Battery worth $283,000 at the end of the most recent quarter. 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.