CBAK Energy Technology, Inc. (NASDAQ:CBAT) Short Interest Update

CBAK Energy Technology, Inc. (NASDAQ:CBAT) was the recipient of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,360,000 shares, a decline of 18.1% from the January 15th total of 1,660,000 shares. Based on an average trading volume of 554,800 shares, the short-interest ratio is presently 2.5 days. Currently, 1.9% of the shares of the stock are sold short.

CBAK Energy Technology Price Performance

Shares of CBAT traded down $0.03 during mid-day trading on Monday, hitting $0.87. The company’s stock had a trading volume of 226,059 shares, compared to its average volume of 227,346. The firm has a 50-day moving average price of $0.91 and a 200 day moving average price of $0.99. CBAK Energy Technology has a fifty-two week low of $0.77 and a fifty-two week high of $2.08. The stock has a market capitalization of $78.41 million, a price-to-earnings ratio of 7.27 and a beta of 1.70.

Institutional Trading of CBAK Energy Technology

A number of large investors have recently added to or reduced their stakes in CBAT. PFG Investments LLC acquired a new position in shares of CBAK Energy Technology in the third quarter worth about $44,000. XTX Topco Ltd acquired a new stake in shares of CBAK Energy Technology during the third quarter valued at approximately $46,000. Marshall Wace LLP purchased a new stake in shares of CBAK Energy Technology in the 4th quarter valued at approximately $96,000. Empowered Funds LLC boosted its stake in CBAK Energy Technology by 5.4% in the 4th quarter. Empowered Funds LLC now owns 327,125 shares of the electronics maker’s stock worth $307,000 after purchasing an additional 16,788 shares during the period. Finally, Bridgeway Capital Management LLC grew its position in CBAK Energy Technology by 2.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 687,125 shares of the electronics maker’s stock worth $646,000 after purchasing an additional 16,788 shares in the last quarter. 1.97% of the stock is currently owned by institutional investors.

CBAK Energy Technology Company Profile

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.