CBAK Energy Technology (NASDAQ:CBAT) Shares Pass Above 200 Day Moving Average of $1.18

Shares of CBAK Energy Technology, Inc. (NASDAQ:CBAT) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.18 and traded as high as $1.26. CBAK Energy Technology shares last traded at $1.25, with a volume of 984,509 shares trading hands.

CBAK Energy Technology Stock Performance

The company has a 50-day simple moving average of $1.07 and a two-hundred day simple moving average of $1.18. The stock has a market cap of $112.42 million, a price-to-earnings ratio of 13.89 and a beta of 1.86.

CBAK Energy Technology (NASDAQ:CBAT) last announced its quarterly earnings results on Friday, August 9th. The electronics maker reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. The firm had revenue of $47.79 million during the quarter, compared to analysts’ expectations of $62.57 million. CBAK Energy Technology had a net margin of 8.52% and a return on equity of 16.04%. During the same quarter last year, the company posted ($0.03) earnings per share. As a group, sell-side analysts predict that CBAK Energy Technology, Inc. will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CBAK Energy Technology

A hedge fund recently bought a new stake in CBAK Energy Technology stock. Marshall Wace LLP acquired a new stake in CBAK Energy Technology, Inc. (NASDAQ:CBAT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 124,698 shares of the electronics maker’s stock, valued at approximately $171,000. Marshall Wace LLP owned 0.14% of CBAK Energy Technology at the end of the most recent reporting period. 1.97% of the stock is owned by institutional investors.

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.