Short Interest in CBAK Energy Technology, Inc. (NASDAQ:CBAT) Increases By 5.6%

CBAK Energy Technology, Inc. (NASDAQ:CBAT) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 1,310,000 shares, a growth of 5.6% from the November 30th total of 1,240,000 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average daily volume of 289,500 shares, the short-interest ratio is presently 4.5 days.

Hedge Funds Weigh In On CBAK Energy Technology

Several large investors have recently bought and sold shares of the stock. Empowered Funds LLC lifted its stake in shares of CBAK Energy Technology by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 310,337 shares of the electronics maker’s stock worth $388,000 after acquiring an additional 15,812 shares during the period. PFG Investments LLC bought a new stake in CBAK Energy Technology during the third quarter worth approximately $44,000. XTX Topco Ltd acquired a new stake in CBAK Energy Technology in the third quarter worth approximately $46,000. Finally, Marshall Wace LLP bought a new position in CBAK Energy Technology during the 2nd quarter valued at $171,000. Institutional investors and hedge funds own 1.97% of the company’s stock.

CBAK Energy Technology Stock Down 13.0 %

Shares of NASDAQ CBAT opened at $0.94 on Thursday. The stock has a market cap of $84.54 million, a P/E ratio of 7.83 and a beta of 1.78. The firm’s 50-day simple moving average is $0.95 and its 200 day simple moving average is $1.08. CBAK Energy Technology has a fifty-two week low of $0.77 and a fifty-two week high of $2.08.

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.