Short Interest in China BAK Battery, Inc. (NASDAQ:CBAT) Expands By 77.2%

China BAK Battery, Inc. (NASDAQ:CBAT) was the recipient of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 558,703 shares, an increase of 77.2% from the July 30th total of 315,302 shares. Based on an average trading volume of 415,059 shares, the short-interest ratio is currently 1.3 days. Currently, 0.6% of the shares of the stock are short sold.

Institutional Investors Weigh In On China BAK Battery

A hedge fund recently raised its position in China BAK Battery stock. Empowered Funds LLC raised its holdings in China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 355,536 shares of the electronics maker’s stock after acquiring an additional 28,411 shares during the quarter. Empowered Funds LLC owned approximately 0.40% of China BAK Battery worth $283,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 1.97% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of China BAK Battery in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, China BAK Battery has an average rating of “Sell”.

China BAK Battery Price Performance

CBAT traded down $0.05 on Tuesday, reaching $0.96. The stock had a trading volume of 214,548 shares, compared to its average volume of 201,416. China BAK Battery has a fifty-two week low of $0.46 and a fifty-two week high of $1.24. The firm has a 50-day moving average of $0.63 and a 200-day moving average of $0.77. The company has a current ratio of 0.65, a quick ratio of 0.44 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $85.46 million, a price-to-earnings ratio of -5.42 and a beta of 1.35.

China BAK Battery Company Profile

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.