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CBAK Energy Technology (NASDAQ:CBAT) stock crosses above its 200-day moving average of $0.97


The stock price of CBAK Energy Technology, Inc. (NASDAQ:CBAT – Get Free Report) crossed 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 on volume of 111,861 shares.

CBAK Energy Technology Stock Performance

The stock has a market cap of $85.42 million, a price-to-earnings ratio of -23.75 and a beta of 1.83. The stock has a fifty-day moving average of $1.02 and a 200-day moving average of $0.97.

CBAK Energy Technology (NASDAQ:CBAT – Get Free Report) last reported its earnings results on Friday, March 15. The electronics manufacturer reported ($0.06) earnings per share for the quarter. The company had revenue of $56.18 million during the quarter, compared to analyst 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%. As a group, equity analysts expect CBAK Energy Technology, Inc. will record a profit per share of 0.02 for the current financial year.

Hedge funds weigh in on CBAK energy technology

Institutional investors and hedge funds have recently changed their holdings of stocks. Ergoteles LLC bought a new position in shares of CBAK Energy Technology in the first quarter worth approximately $29,000. UBS Group AG bought a new stake in shares of CBAK Energy Technology during the 4th quarter worth approximately $36,000. NewEdge Advisors LLC bought a new stake in shares of CBAK Energy Technology during the first quarter worth approximately $33,000. Morgan Stanley increased its holdings in shares of CBAK Energy Technology by 30.2% during the fourth quarter. Morgan Stanley now owns 42,974 shares of the electronics maker worth $43,000 after acquiring an additional 9,980 shares in the last quarter. Finally, Atticus Wealth Management LLC purchased a new stake in shares of CBAK Energy Technology in the 4th quarter worth approximately $58,000. Hedge funds and other institutional investors own 1.97% of the company’s shares.

CBAK Energy Technology Company Profile

(Get a free report)

CBAK Energy Technology, Inc, together with its subsidiaries, manufactures and sells lithium batteries in mainland China, the United States, Europe and internationally. The products are used in various applications including electric vehicles, such as electric cars, electric buses and hybrid electric cars and buses; light electric vehicles, including electric bicycles, electric motorcycles and cars for sightseeing; and power tools, energy storage, uninterruptible power supply and other high power applications, as well as cordless power tools.

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