CBAK Energy Technology, Inc. (NASDAQ:CBAT) Short Interest Down 8.1% in November

CBAK Energy Technology, Inc. (NASDAQ:CBAT) saw a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 1,240,000 shares, a drop of 8.1% from the November 15th total of 1,350,000 shares. Based on an average trading volume of 266,500 shares, the days-to-cover ratio is currently 4.7 days. Approximately 1.7% of the shares of the company are short sold.

Institutional Trading of CBAK Energy Technology

Institutional investors have recently modified their holdings of the business. Empowered Funds LLC grew its position in shares of CBAK Energy Technology by 5.4% in the third quarter. Empowered Funds LLC now owns 310,337 shares of the electronics maker’s stock valued at $388,000 after purchasing an additional 15,812 shares in the last quarter. Marshall Wace LLP purchased a new stake in CBAK Energy Technology during the second quarter valued at about $171,000. PFG Investments LLC bought a new stake in CBAK Energy Technology in the 3rd quarter worth approximately $44,000. Finally, XTX Topco Ltd bought a new stake in CBAK Energy Technology in the 3rd quarter worth approximately $46,000. 1.97% of the stock is currently owned by hedge funds and other institutional investors.

CBAK Energy Technology Stock Up 4.0 %

CBAK Energy Technology stock traded up $0.03 during midday trading on Tuesday, reaching $0.87. The stock had a trading volume of 101,616 shares, compared to its average volume of 219,972. The firm has a market capitalization of $78.25 million, a PE ratio of 6.97 and a beta of 1.78. CBAK Energy Technology has a 12 month low of $0.82 and a 12 month high of $2.08. The firm’s 50-day moving average price is $1.00 and its 200 day moving average price is $1.15.

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.