China BAK Battery (NASDAQ:CBAT) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

China BAK Battery (NASDAQ:CBAT) issued its quarterly earnings results on Monday. The electronics maker reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.07, Zacks reports. China BAK Battery had a negative return on equity of 7.54% and a negative net margin of 6.29%.

China BAK Battery Trading Up 4.6%

CBAT stock traded up $0.04 during trading on Monday, reaching $0.92. 80,801 shares of the stock were exchanged, compared to its average volume of 254,458. The company has a current ratio of 0.72, a quick ratio of 0.53 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average price of $0.93 and a 200-day moving average price of $0.97. China BAK Battery has a 1 year low of $0.57 and a 1 year high of $1.28. The firm has a market capitalization of $81.55 million, a price-to-earnings ratio of -9.20 and a beta of 2.83.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of China BAK Battery in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Trading of China BAK Battery

An institutional investor recently raised its position in China BAK Battery stock. Empowered Funds LLC boosted its holdings in China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 355,536 shares of the electronics maker’s stock after acquiring an additional 28,411 shares during the period. Empowered Funds LLC owned 0.40% of China BAK Battery worth $283,000 at the end of the most recent reporting period. 1.97% of the stock is currently owned by institutional investors and hedge funds.

China BAK Battery 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.