CBAK Energy Technology, Inc. (NASDAQ:CBAT) Short Interest Up 35.1% in January

CBAK Energy Technology, Inc. (NASDAQ:CBAT) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,770,000 shares, a growth of 35.1% from the December 31st total of 1,310,000 shares. Based on an average daily volume of 569,300 shares, the days-to-cover ratio is currently 3.1 days. Approximately 2.5% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC raised its stake in CBAK Energy Technology by 5.4% in the third quarter. Empowered Funds LLC now owns 310,337 shares of the electronics maker’s stock worth $388,000 after buying an additional 15,812 shares in the last quarter. PFG Investments LLC bought a new position in shares of CBAK Energy Technology in the third quarter worth approximately $44,000. XTX Topco Ltd purchased a new stake in shares of CBAK Energy Technology during the third quarter valued at approximately $46,000. Finally, Marshall Wace LLP purchased a new position in CBAK Energy Technology in the 2nd quarter worth approximately $171,000. Institutional investors own 1.97% of the company’s stock.

CBAK Energy Technology Price Performance

NASDAQ CBAT traded up $0.01 during trading on Thursday, hitting $0.90. 42,925 shares of the company’s stock traded hands, compared to its average volume of 368,496. The firm has a market cap of $81.31 million, a P/E ratio of 7.53 and a beta of 1.74. The stock has a fifty day moving average of $0.91 and a two-hundred day moving average of $1.03. CBAK Energy Technology has a 12-month low of $0.77 and a 12-month high of $2.08.

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.