China BAK Battery (NASDAQ:CBAT) Shares Pass Above 200-Day Moving Average – Here’s What Happened

China BAK Battery, Inc. (NASDAQ:CBAT)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.92 and traded as high as $0.93. China BAK Battery shares last traded at $0.92, with a volume of 53,826 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded China BAK Battery from a “sell” rating to a “hold” rating in a report on Saturday, June 14th.

China BAK Battery Stock Performance

The stock has a market capitalization of $81.20 million, a PE ratio of -9.16 and a beta of 1.70. The stock has a fifty day moving average of $1.04 and a 200-day moving average of $0.92. The company has a quick ratio of 0.53, a current ratio of 0.72 and a debt-to-equity ratio of 0.04.

China BAK Battery (NASDAQ:CBAT) last announced its quarterly earnings results on Monday, August 18th. The electronics maker reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $40.52 million during the quarter, compared to the consensus estimate of $33.56 million. China BAK Battery had a negative return on equity of 7.54% and a negative net margin of 6.29%. Equities analysts anticipate that China BAK Battery, Inc. will post 0.19 earnings per share for the current fiscal year.

Institutional Trading of China BAK Battery

A number of institutional investors have recently bought and sold shares of CBAT. XTX Topco Ltd purchased a new stake in China BAK Battery during the 1st quarter worth about $27,000. Marshall Wace LLP purchased a new stake in China BAK Battery during the 4th quarter worth about $96,000. Empowered Funds LLC lifted its holdings in China BAK Battery by 8.7% during 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 holdings in China BAK Battery by 2.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 687,125 shares of the electronics maker’s stock worth $646,000 after buying an additional 16,788 shares during the last quarter. 1.97% of the stock is owned by hedge funds and other institutional investors.

About China BAK Battery

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.