CBAK Energy Technology (NASDAQ:CBAT) Stock Price Passes Above 200 Day Moving Average of $0.97

CBAK Energy Technology, Inc. (NASDAQ:CBAT)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.97 and traded as high as $0.99. CBAK Energy Technology shares last traded at $0.95, with a volume of 111,861 shares trading hands.

CBAK Energy Technology Price Performance

The firm’s fifty day moving average is $1.02 and its 200-day moving average is $0.97.

CBAK Energy Technology (NASDAQ:CBAT) last released its earnings results on Friday, March 15th. The electronics maker reported ($0.06) earnings per share (EPS) for the quarter. CBAK Energy Technology had a negative return on equity of 0.86% and a negative net margin of 0.50%. The business had revenue of $56.18 million for the quarter, compared to analyst estimates of $58.86 million. As a group, equities analysts predict that CBAK Energy Technology, Inc. will post 0.02 earnings per share for the current year.

Hedge Funds Weigh In On CBAK Energy Technology

Several hedge funds have recently added to or reduced their stakes in the stock. Ergoteles LLC acquired a new stake in CBAK Energy Technology during the 1st quarter worth approximately $29,000. NewEdge Advisors LLC acquired a new position in CBAK Energy Technology during the first quarter worth $33,000. UBS Group AG purchased a new stake in CBAK Energy Technology during the fourth quarter worth $36,000. Morgan Stanley boosted its position in CBAK Energy Technology by 30.2% during the fourth quarter. Morgan Stanley now owns 42,974 shares of the electronics maker’s stock worth $43,000 after purchasing an additional 9,980 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in CBAK Energy Technology by 353.3% in the first quarter. Jane Street Group LLC now owns 55,680 shares of the electronics maker’s stock valued at $49,000 after purchasing an additional 43,397 shares during the last quarter. 1.97% of the stock is currently owned by hedge funds and other institutional investors.

CBAK Energy Technology Company Profile

CBAK Energy Technology, Inc, together with its subsidiaries, manufactures and sells lithium batteries in Mainland China, the United States, Europe, and internationally. Its products are used in various applications, including electric vehicles, such as electric cars, electric buses, and hybrid electric cars and buses; light electric vehicles that include electric bicycles, electric motors, and sight-seeing cars; and electric tools, energy storage, uninterruptible power supply, and other high power applications, as well as cordless power tools.