China BAK Battery, Inc. (NASDAQ:CBAT) Shares Shorted: Short Interest Up 47.7% in September

China BAK Battery, Inc. (NASDAQ:CBAT) saw a large increase in short interest in September. As of September 15th, there was short interest totaling 882,475 shares, an increase of 47.7% from the August 31st total of 597,523 shares. Based on an average trading volume of 467,085 shares, the short-interest ratio is presently 1.9 days. Approximately 1.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of research firms have weighed in on CBAT. Wall Street Zen raised shares of China BAK Battery to a “hold” rating in a research note on Saturday, September 26th. Weiss Ratings restated a “sell (d)” rating on shares of China BAK Battery in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

China BAK Battery Stock Down 2.3%

CBAT stock opened at $1.30 on Thursday. The firm’s 50 day moving average price is $0.88 and its 200-day moving average price is $0.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.44 and a current ratio of 0.65. The firm has a market cap of $115.25 million, a PE ratio of -7.22 and a beta of 1.50. China BAK Battery has a one year low of $0.46 and a one year high of $1.55.

China BAK Battery Company Profile

China BAK Battery, Inc is a battery manufacturer headquartered in Dalian, China, and its shares trade on the Nasdaq under the symbol CBAT. The company develops and produces rechargeable lithium-ion battery cells, battery packs and related energy-storage products.

Its products are designed for applications including electric vehicles, electric bicycles and other light electric vehicles, consumer electronics, power tools, uninterruptible power supplies and stationary energy-storage systems.