Azzad Asset Management Inc. ADV Reduces Stock Holdings in CBAK Energy Technology, Inc. (NASDAQ:CBAT)

Azzad Asset Management Inc. ADV trimmed its holdings in shares of CBAK Energy Technology, Inc. (NASDAQ:CBAT) by 21.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,312 shares of the electronics maker’s stock after selling 10,000 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in CBAK Energy Technology were worth $45,000 at the end of the most recent reporting period.

Separately, Empowered Funds LLC lifted its holdings in CBAK Energy Technology by 8.2% during the 1st quarter. Empowered Funds LLC now owns 273,285 shares of the electronics maker’s stock worth $284,000 after buying an additional 20,650 shares in the last quarter. 1.97% of the stock is currently owned by institutional investors.

CBAK Energy Technology Trading Down 3.4 %

CBAK Energy Technology stock opened at $1.13 on Wednesday. The stock’s fifty day simple moving average is $1.06 and its 200-day simple moving average is $1.18. The firm has a market capitalization of $101.63 million, a P/E ratio of 12.56 and a beta of 1.87. CBAK Energy Technology, Inc. has a twelve month low of $0.76 and a twelve month high of $2.08.

CBAK Energy Technology (NASDAQ:CBAT) last released its quarterly earnings data on Friday, August 9th. The electronics maker reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. The business had revenue of $47.79 million for the quarter, compared to the consensus estimate of $62.57 million. CBAK Energy Technology had a return on equity of 16.04% and a net margin of 8.52%. During the same quarter in the prior year, the business posted ($0.03) EPS. Sell-side analysts predict that CBAK Energy Technology, Inc. will post 0.31 earnings per share for the current year.

About CBAK Energy Technology

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.