CBAK Energy Technology (NASDAQ:CBAT) Stock Crosses Above Two Hundred Day Moving Average of $0.96

CBAK Energy Technology, Inc. (NASDAQ:CBAT)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.96 and traded as high as $0.96. CBAK Energy Technology shares last traded at $0.93, with a volume of 66,475 shares changing hands.

CBAK Energy Technology Price Performance

The company has a market cap of $83.96 million, a PE ratio of -23.34 and a beta of 1.83. The company has a 50-day moving average price of $1.02 and a two-hundred day moving average price of $0.96.

CBAK Energy Technology (NASDAQ:CBAT) last announced its earnings results on Friday, March 15th. The electronics maker reported ($0.06) earnings per share for the quarter. CBAK Energy Technology had a negative net margin of 0.50% and a negative return on equity of 0.86%. The business had revenue of $56.18 million for the quarter, compared to analyst estimates of $58.86 million. On average, equities research analysts anticipate that CBAK Energy Technology, Inc. will post 0.02 earnings per share for the current year.

Hedge Funds Weigh In On CBAK Energy Technology

A number of large investors have recently bought and sold shares of the business. Ergoteles LLC acquired a new stake in shares of CBAK Energy Technology during the 1st quarter worth approximately $29,000. NewEdge Advisors LLC acquired a new stake in CBAK Energy Technology in the first quarter worth $33,000. UBS Group AG acquired a new stake in CBAK Energy Technology in the fourth quarter worth $36,000. Morgan Stanley lifted its stake in CBAK Energy Technology by 30.2% in the fourth quarter. Morgan Stanley now owns 42,974 shares of the electronics maker’s stock valued at $43,000 after buying an additional 9,980 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of CBAK Energy Technology by 353.3% during the first quarter. Jane Street Group LLC now owns 55,680 shares of the electronics maker’s stock valued at $49,000 after acquiring an additional 43,397 shares during the period. Institutional investors own 1.97% of the company’s stock.

About CBAK Energy Technology

CBAK Energy Technology, Inc, together with its subsidiaries, manufactures and sells lithium batteries in Mainland China, the United States, Europe, and internationally. Its products are used in various applications, including electric vehicles, such as electric cars, electric buses, and hybrid electric cars and buses; light electric vehicles that include electric bicycles, electric motors, and sight-seeing cars; and electric tools, energy storage, uninterruptible power supply, and other high power applications, as well as cordless power tools.