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 November. As of November 30th, there was short interest totalling 1,240,000 shares, a decline 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 presently 4.7 days. Currently, 1.7% of the company’s shares are sold short.

CBAK Energy Technology Stock Up 4.0 %

Shares of CBAK Energy Technology stock traded up $0.03 during trading on Tuesday, reaching $0.87. 101,616 shares of the stock were exchanged, compared to its average volume of 219,972. The firm has a market cap of $78.25 million, a price-to-earnings ratio of 6.97 and a beta of 1.78. CBAK Energy Technology has a 1 year low of $0.82 and a 1 year high of $2.08. The stock’s fifty day moving average is $1.00 and its 200 day moving average is $1.15.

Institutional Investors Weigh In On CBAK Energy Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd purchased a new stake in shares of CBAK Energy Technology in the 3rd quarter worth about $46,000. Empowered Funds LLC boosted its position in shares of CBAK Energy Technology by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 310,337 shares of the electronics maker’s stock worth $388,000 after purchasing an additional 15,812 shares in the last quarter. PFG Investments LLC purchased a new stake in shares of CBAK Energy Technology in the third quarter worth $44,000. Finally, Marshall Wace LLP purchased a new stake in CBAK Energy Technology during the 2nd quarter valued at about $171,000. 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, 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.