China BAK Battery (NASDAQ:CBAT) Issues Earnings Results, Misses Expectations By $0.07 EPS

China BAK Battery (NASDAQ:CBAT) released its quarterly earnings data on Monday. The electronics maker reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07), Zacks reports. The company had revenue of $69.62 million during the quarter, compared to the consensus estimate of $70.23 billion. China BAK Battery had a negative net margin of 4.80% and a negative return on equity of 8.11%.

China BAK Battery Stock Performance

CBAT opened at $0.74 on Tuesday. The business’s 50-day moving average price is $0.85 and its two-hundred day moving average price is $0.88. China BAK Battery has a 1 year low of $0.72 and a 1 year high of $1.25. The company has a market capitalization of $65.26 million, a price-to-earnings ratio of -7.36 and a beta of 1.30. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.60 and a quick ratio of 0.43.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of China BAK Battery in a research note on Monday, April 20th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Trading of China BAK Battery

A hedge fund recently raised its stake in China BAK Battery stock. Empowered Funds LLC raised its position in China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 355,536 shares of the electronics maker’s stock after purchasing an additional 28,411 shares during the quarter. Empowered Funds LLC owned 0.40% of China BAK Battery worth $283,000 at the end of the most recent reporting period. Institutional investors own 1.97% of the company’s stock.

About China BAK Battery

China BAK Battery Inc (NASDAQ: CBAT) is a China-based developer and manufacturer of rechargeable lithium-ion batteries and related power solutions. The company’s core product lines include small, medium and large format batteries, battery modules and pack assemblies designed for consumer electronics, electric vehicles, energy storage systems and other industrial applications. China BAK Battery offers polymer lithium-ion cells, prismatic and cylindrical cells, as well as integrated battery systems tailored to meet the performance requirements of its clients.

Founded in 2001 and headquartered in Shenzhen, China BAK Battery has expanded its manufacturing footprint and research and development capabilities over the years to serve customers across Asia, Europe and North America.