CBAK Energy Technology (NASDAQ:CBAT) Releases Earnings Results

CBAK Energy Technology (NASDAQ:CBAT) announced its quarterly earnings data on Monday. The electronics maker reported ($0.02) earnings per share (EPS) for the quarter, RTT News reports. CBAK Energy Technology had a net margin of 6.25% and a return on equity of 10.55%.

CBAK Energy Technology Trading Down 7.7%

CBAT opened at $0.81 on Tuesday. The company has a fifty day moving average price of $0.78 and a two-hundred day moving average price of $0.87. CBAK Energy Technology has a 1-year low of $0.57 and a 1-year high of $2.08. The company has a market cap of $72.40 million, a P/E ratio of 6.71 and a beta of 1.66.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in CBAK Energy Technology stock. Empowered Funds LLC lifted its position in CBAK Energy Technology, Inc. (NASDAQ:CBAT) by 8.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 CBAK Energy Technology worth $283,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.