Tue. Nov 29th, 2022

CBAK Energy Technology, Inc. (NASDAQ:CBAT – Get Rating) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 2,620,000 shares, a decrease of 8.1% from the August 31st total of 2,850,000 shares. Based on an average daily trading volume, of 343,900 shares, the short-interest ratio is currently 7.6 days. Currently, 4.9% of the company’s stock are short sold.

Hedge Funds Weigh In On CBAK Energy Technology

Large investors have recently modified their holdings of the business. Ergoteles LLC acquired a new position in shares of CBAK Energy Technology during the 1st quarter worth about $29,000. Spire Wealth Management acquired a new position in shares of CBAK Energy Technology during the 2nd quarter worth about $47,000. UBS Group AG boosted its stake in shares of CBAK Energy Technology by 257.7% during the 2nd quarter. UBS Group AG now owns 69,346 shares of the electronics maker’s stock worth $74,000 after buying an additional 49,962 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of CBAK Energy Technology by 31.8% during the 1st quarter. Jane Street Group LLC now owns 79,432 shares of the electronics maker’s stock worth $102,000 after buying an additional 19,149 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in CBAK Energy Technology by 94.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 91,519 shares of the electronics maker’s stock valued at $117,000 after purchasing an additional 44,529 shares during the last quarter. 2.84% of the stock is currently owned by institutional investors and hedge funds.

CBAK Energy Technology Trading Up 0.9 %

Shares of CBAK Energy Technology stock traded up $0.01 during trading hours on Friday, reaching $1.15. 110,521 shares of the company’s stock were exchanged, compared to its average volume of 216,658. The company has a 50 day moving average of $1.32 and a two-hundred day moving average of $1.22. CBAK Energy Technology has a fifty-two week low of $0.92 and a fifty-two week high of $3.57. The stock has a market cap of $102.34 million, a P/E ratio of 3.38 and a beta of 2.76.

About CBAK Energy Technology

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CBAK Energy Technology, Inc, together with its subsidiaries, develops, manufactures, and sells lithium batteries in Mainland China, the United States, Korea, 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.

Further Reading

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