China BAK Battery (NASDAQ:CBAT) Shares Pass Below 200 Day Moving Average – Should You Sell?

Shares of China BAK Battery, Inc. (NASDAQ:CBAT) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.98 and traded as low as $0.88. China BAK Battery shares last traded at $0.8660, with a volume of 73,942 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of China BAK Battery in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, China BAK Battery presently has an average rating of “Sell”.

China BAK Battery Stock Down 2.6%

The company’s 50-day simple moving average is $0.91 and its two-hundred day simple moving average is $0.97. The firm has a market capitalization of $76.50 million, a P/E ratio of -12.33 and a beta of 1.10. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.69 and a quick ratio of 0.54.

China BAK Battery (NASDAQ:CBAT) last issued its quarterly earnings data on Monday, November 10th. The electronics maker reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.07. China BAK Battery had a negative net margin of 4.03% and a negative return on equity of 5.50%. The firm had revenue of $60.92 million during the quarter, compared to the consensus estimate of $39.27 million. As a group, research analysts expect that China BAK Battery, Inc. will post 0.19 earnings per share for the current year.

Institutional Investors Weigh In On China BAK Battery

An institutional investor recently raised its position in China BAK Battery stock. Empowered Funds LLC boosted its stake in shares of China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 355,536 shares of the electronics maker’s stock after buying an additional 28,411 shares during the period. Empowered Funds LLC owned approximately 0.40% of China BAK Battery worth $283,000 at the end of the most recent quarter. Institutional investors own 1.97% of the company’s stock.

China BAK Battery Company Profile

China BAK Battery Inc (NASDAQ: CBAT) is a China-based developer and manufacturer of rechargeable lithium-ion batteries and related power solutions. The company’s core product lines include small, medium and large format batteries, battery modules and pack assemblies designed for consumer electronics, electric vehicles, energy storage systems and other industrial applications. China BAK Battery offers polymer lithium-ion cells, prismatic and cylindrical cells, as well as integrated battery systems tailored to meet the performance requirements of its clients.

Founded in 2001 and headquartered in Shenzhen, China BAK Battery has expanded its manufacturing footprint and research and development capabilities over the years to serve customers across Asia, Europe and North America.