CBAK Energy Technology (NASDAQ:CBAT) Stock Passes Above 200 Day Moving Average of $0.97

Shares of CBAK Energy Technology, Inc. (NASDAQ:CBAT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.97 and traded as high as $0.99. CBAK Energy Technology shares last traded at $0.95, with a volume of 111,861 shares.

CBAK Energy Technology Price Performance

The company has a market capitalization of $85.42 million, a PE ratio of -23.75 and a beta of 1.83. The company has a 50 day moving average of $1.02 and a two-hundred day moving average of $0.97.

CBAK Energy Technology (NASDAQ:CBAT) last issued its quarterly earnings results on Friday, March 15th. The electronics maker reported ($0.06) earnings per share for the quarter. The firm had revenue of $56.18 million during the quarter, compared to analysts’ expectations of $58.86 million. CBAK Energy Technology had a negative return on equity of 0.86% and a negative net margin of 0.50%. On average, equities analysts anticipate that CBAK Energy Technology, Inc. will post 0.02 EPS for the current year.

Institutional Investors Weigh In On CBAK Energy Technology

Institutional investors have recently modified their holdings of the stock. Ergoteles LLC purchased a new stake in shares of CBAK Energy Technology in the first quarter worth $29,000. UBS Group AG purchased a new stake in shares of CBAK Energy Technology in the fourth quarter worth $36,000. NewEdge Advisors LLC purchased a new stake in shares of CBAK Energy Technology in the first quarter worth $33,000. Morgan Stanley grew its stake in shares of CBAK Energy Technology by 30.2% in the fourth quarter. Morgan Stanley now owns 42,974 shares of the electronics maker’s stock worth $43,000 after acquiring an additional 9,980 shares during the last quarter. Finally, Atticus Wealth Management LLC purchased a new stake in shares of CBAK Energy Technology in the fourth quarter worth $58,000. 1.97% of the stock is owned by hedge funds and other institutional investors.

About CBAK Energy Technology

CBAK Energy Technology, Inc, together with its subsidiaries, manufactures and sells lithium batteries in Mainland China, the United States, Europe, and internationally. Its products are used in various applications, including electric vehicles, such as electric cars, electric buses, and hybrid electric cars and buses; light electric vehicles that include electric bicycles, electric motors, and sight-seeing cars; and electric tools, energy storage, uninterruptible power supply, and other high power applications, as well as cordless power tools.