CBAK Energy Technology (NASDAQ:CBAT) Stock Passes Above 200 Day Moving Average of $0.97

CBAK Energy Technology, Inc. (NASDAQ:CBAT)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.97 and traded as high as $0.99. CBAK Energy Technology shares last traded at $0.95, with a volume of 111,861 shares.

CBAK Energy Technology Stock Performance

The stock has a market cap of $85.42 million, a PE ratio of -23.75 and a beta of 1.83. The stock has a fifty day moving average price of $1.02 and a 200 day moving average price of $0.97.

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

Hedge Funds Weigh In On CBAK Energy Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. Ergoteles LLC purchased a new position in shares of CBAK Energy Technology in the 1st quarter worth approximately $29,000. UBS Group AG bought a new stake in shares of CBAK Energy Technology during the 4th quarter worth approximately $36,000. NewEdge Advisors LLC bought a new stake in shares of CBAK Energy Technology during the 1st quarter worth approximately $33,000. Morgan Stanley lifted its stake in shares of CBAK Energy Technology by 30.2% during the 4th quarter. Morgan Stanley now owns 42,974 shares of the electronics maker’s stock worth $43,000 after acquiring an additional 9,980 shares during the last quarter. Finally, Atticus Wealth Management LLC bought a new stake in shares of CBAK Energy Technology during the 4th quarter worth approximately $58,000. Hedge funds and other institutional investors own 1.97% of the company’s stock.

CBAK Energy Technology Company Profile

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.