Wall Street Zen Upgrades CBAK Energy Technology (NASDAQ:CBAT) to Hold

CBAK Energy Technology (NASDAQ:CBAT) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

CBAK Energy Technology Price Performance

CBAT opened at $1.21 on Friday. CBAK Energy Technology has a 1 year low of $0.57 and a 1 year high of $1.64. The stock has a 50-day moving average price of $0.85 and a 200-day moving average price of $0.87. The firm has a market cap of $108.83 million, a PE ratio of 10.08 and a beta of 1.73.

CBAK Energy Technology (NASDAQ:CBAT) last issued its earnings results on Monday, May 19th. The electronics maker reported ($0.02) earnings per share (EPS) for the quarter. CBAK Energy Technology had a return on equity of 10.55% and a net margin of 6.25%. The firm had revenue of $34.94 million during the quarter, compared to the consensus estimate of $52.16 million. As a group, sell-side analysts anticipate that CBAK Energy Technology will post 0.19 EPS for the current year.

Institutional Trading of CBAK Energy Technology

A number of institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd bought a new position in shares of CBAK Energy Technology during the first quarter valued at $27,000. Marshall Wace LLP bought a new stake in CBAK Energy Technology in the 4th quarter worth about $96,000. Empowered Funds LLC raised its position in CBAK Energy Technology by 8.7% in the 1st quarter. Empowered Funds LLC now owns 355,536 shares of the electronics maker’s stock worth $283,000 after buying an additional 28,411 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in 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 valued at $646,000 after acquiring an additional 16,788 shares during the period. Institutional investors own 1.97% of the company’s stock.

About CBAK Energy Technology

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.