CBAK Energy Technology, Inc. (NASDAQ:CBAT) Sees Large Growth in Short Interest

CBAK Energy Technology, Inc. (NASDAQ:CBAT) saw a significant increase in short interest in December. As of December 15th, there was short interest totalling 1,310,000 shares, an increase of 5.6% from the November 30th total of 1,240,000 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average trading volume of 289,500 shares, the short-interest ratio is currently 4.5 days.

CBAK Energy Technology Price Performance

CBAT opened at $1.01 on Friday. The firm has a market capitalization of $90.84 million, a PE ratio of 8.42 and a beta of 1.78. CBAK Energy Technology has a fifty-two week low of $0.77 and a fifty-two week high of $2.08. The company’s 50-day moving average is $0.95 and its 200 day moving average is $1.08.

Institutional Trading of CBAK Energy Technology

Several institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC grew its holdings in CBAK Energy Technology by 5.4% during the third quarter. Empowered Funds LLC now owns 310,337 shares of the electronics maker’s stock worth $388,000 after buying an additional 15,812 shares in the last quarter. Marshall Wace LLP purchased a new position in CBAK Energy Technology during the 2nd quarter worth $171,000. XTX Topco Ltd bought a new stake in shares of CBAK Energy Technology in the 3rd quarter worth $46,000. Finally, PFG Investments LLC purchased a new stake in shares of CBAK Energy Technology in the third quarter valued at about $44,000. 1.97% of the stock is owned by hedge funds and other institutional investors.

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.