China BAK Battery, Inc. (NASDAQ:CBAT – Get Free Report)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.81 and traded as low as $0.5040. China BAK Battery shares last traded at $0.54, with a volume of 101,106 shares changing hands.
Analyst Ratings Changes
Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of China BAK Battery in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.
Get Our Latest Analysis on China BAK Battery
China BAK Battery Trading Up 1.9%
China BAK Battery (NASDAQ:CBAT – Get Free Report) last released its quarterly earnings results on Monday, May 18th. The electronics maker reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). China BAK Battery had a negative net margin of 7.43% and a negative return on equity of 15.32%. The company had revenue of $69.62 million during the quarter, compared to the consensus estimate of $70.23 million. Analysts predict that China BAK Battery, Inc. will post -0.11 EPS for the current year.
Hedge Funds Weigh In On China BAK Battery
An institutional investor recently raised its stake in China BAK Battery stock. Empowered Funds LLC boosted its position in China BAK Battery, Inc. (NASDAQ:CBAT – Free Report) by 8.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 355,536 shares of the electronics maker’s stock after buying an additional 28,411 shares during the period. Empowered Funds LLC owned approximately 0.40% of China BAK Battery worth $283,000 at the end of the most recent quarter. 1.97% of the stock is owned by institutional investors.
China BAK Battery Company Profile
China BAK Battery Inc (NASDAQ: CBAT) is a China-based developer and manufacturer of rechargeable lithium-ion batteries and related power solutions. The company’s core product lines include small, medium and large format batteries, battery modules and pack assemblies designed for consumer electronics, electric vehicles, energy storage systems and other industrial applications. China BAK Battery offers polymer lithium-ion cells, prismatic and cylindrical cells, as well as integrated battery systems tailored to meet the performance requirements of its clients.
Founded in 2001 and headquartered in Shenzhen, China BAK Battery has expanded its manufacturing footprint and research and development capabilities over the years to serve customers across Asia, Europe and North America.
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