CBAK Energy Technology (NASDAQ:CBAT) Stock Price Crosses Above 200 Day Moving Average of $0.98

CBAK Energy Technology, Inc. (NASDAQ:CBAT) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.98 and traded as high as $1.06. CBAK Energy Technology shares last traded at $1.05, with a volume of 73,818 shares traded.

CBAK Energy Technology Price Performance

The firm has a market capitalization of $94.42 million, a P/E ratio of -26.25 and a beta of 1.83. The stock’s 50-day simple moving average is $1.02 and its two-hundred day simple moving average is $0.98.

CBAK Energy Technology (NASDAQ:CBAT) last posted 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 the consensus estimate 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, analysts forecast that CBAK Energy Technology, Inc. will post 0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CBAK Energy Technology

An institutional investor recently bought a new position in CBAK Energy Technology stock. Atticus Wealth Management LLC bought a new position in shares of CBAK Energy Technology, Inc. (NASDAQ:CBAT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 55,000 shares of the electronics maker’s stock, valued at approximately $58,000. Atticus Wealth Management LLC owned about 0.06% of CBAK Energy Technology as of its most recent filing with the Securities and Exchange Commission (SEC). 1.97% of the stock is currently owned by hedge funds and other institutional investors.

CBAK Energy Technology Company Profile

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.