CBAK Energy Technology, Inc. (NASDAQ:CBAT) Short Interest Down 18.1% in January

CBAK Energy Technology, Inc. (NASDAQ:CBAT) saw a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 1,360,000 shares, a decrease of 18.1% from the January 15th total of 1,660,000 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average daily volume of 554,800 shares, the short-interest ratio is presently 2.5 days.

CBAK Energy Technology Price Performance

Shares of CBAK Energy Technology stock traded down $0.03 during trading on Monday, hitting $0.87. 226,059 shares of the stock were exchanged, compared to its average volume of 227,346. The stock has a market cap of $78.41 million, a price-to-earnings ratio of 7.27 and a beta of 1.70. The firm’s 50-day moving average price is $0.91 and its 200 day moving average price is $0.99. CBAK Energy Technology has a 12-month low of $0.77 and a 12-month high of $2.08.

Institutional Investors Weigh In On CBAK Energy Technology

Several institutional investors have recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC lifted its position in shares of CBAK Energy Technology by 2.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 687,125 shares of the electronics maker’s stock worth $646,000 after buying an additional 16,788 shares during the last quarter. Empowered Funds LLC grew its position in shares of CBAK Energy Technology by 5.4% in the 4th quarter. Empowered Funds LLC now owns 327,125 shares of the electronics maker’s stock valued at $307,000 after buying an additional 16,788 shares during the last quarter. Marshall Wace LLP acquired a new stake in CBAK Energy Technology during the 4th quarter worth $96,000. XTX Topco Ltd purchased a new stake in CBAK Energy Technology in the third quarter valued at $46,000. Finally, PFG Investments LLC acquired a new position in CBAK Energy Technology in the third quarter valued at $44,000. Hedge funds and other institutional investors own 1.97% of the company’s stock.

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.