China BAK Battery, Inc. (NASDAQ:CBAT) Stock Short Interest Climbs 47.7%

China BAK Battery, Inc. (NASDAQ:CBAT) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 882,475 shares, a growth of 47.7% from the August 31st total of 597,523 shares. Based on an average daily volume of 467,085 shares, the short-interest ratio is currently 1.9 days. Currently, 1.0% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research firms have issued reports on CBAT. Weiss Ratings restated a “sell (d)” rating on shares of China BAK Battery in a research note on Friday, July 17th. Wall Street Zen upgraded China BAK Battery to a “hold” rating in a research note on Saturday, September 26th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

China BAK Battery Stock Performance

NASDAQ CBAT opened at $1.34 on Friday. The stock has a market cap of $118.79 million, a PE ratio of -7.44 and a beta of 1.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.44 and a current ratio of 0.65. The firm has a 50-day moving average of $0.89 and a 200-day moving average of $0.79. China BAK Battery has a 52-week low of $0.46 and a 52-week high of $1.55.

China BAK Battery Company Profile

China BAK Battery, Inc is a battery manufacturer headquartered in Dalian, China, and its shares trade on the Nasdaq under the symbol CBAT. The company develops and produces rechargeable lithium-ion battery cells, battery packs and related energy-storage products.

Its products are designed for applications including electric vehicles, electric bicycles and other light electric vehicles, consumer electronics, power tools, uninterruptible power supplies and stationary energy-storage systems.