Short Interest in CBAK Energy Technology, Inc. (NASDAQ:CBAT) Rises By 20.5%

CBAK Energy Technology, Inc. (NASDAQ:CBAT) was the recipient of a large increase in short interest in November. As of November 15th, there was short interest totalling 1,350,000 shares, an increase of 20.5% from the October 31st total of 1,120,000 shares. Based on an average daily volume of 249,800 shares, the short-interest ratio is currently 5.4 days. Approximately 1.9% of the company’s stock are sold short.

Institutional Inflows and Outflows

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

CBAK Energy Technology Trading Down 1.0 %

Shares of CBAK Energy Technology stock traded down $0.01 during trading on Friday, reaching $0.94. The stock had a trading volume of 310,340 shares, compared to its average volume of 267,240. The stock has a fifty day moving average price of $1.05 and a two-hundred day moving average price of $1.18. CBAK Energy Technology has a 52 week low of $0.82 and a 52 week high of $2.08. The company has a market capitalization of $84.80 million, a price-to-earnings ratio of 7.86 and a beta of 1.91.

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.