CBAK Energy Technology, Inc. (NASDAQ:CBAT) Short Interest Up 35.1% in January

CBAK Energy Technology, Inc. (NASDAQ:CBAT) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 1,770,000 shares, an increase of 35.1% from the December 31st total of 1,310,000 shares. Based on an average trading volume of 569,300 shares, the days-to-cover ratio is currently 3.1 days. Approximately 2.5% of the shares of the stock are short sold.

Institutional Investors Weigh In On CBAK Energy Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC increased its position in CBAK Energy Technology by 5.4% in the fourth quarter. Empowered Funds LLC now owns 327,125 shares of the electronics maker’s stock worth $307,000 after purchasing an additional 16,788 shares during the period. Marshall Wace LLP acquired a new stake in shares of CBAK Energy Technology during the 2nd quarter worth approximately $171,000. XTX Topco Ltd bought a new stake in shares of CBAK Energy Technology during the third quarter worth approximately $46,000. Finally, PFG Investments LLC acquired a new position in CBAK Energy Technology in the third quarter valued at approximately $44,000. Institutional investors own 1.97% of the company’s stock.

CBAK Energy Technology Price Performance

CBAT stock opened at $0.95 on Friday. The stock has a market capitalization of $85.11 million, a PE ratio of 7.89 and a beta of 1.74. The company has a 50 day moving average price of $0.92 and a 200 day moving average price of $1.03. CBAK Energy Technology has a fifty-two week low of $0.77 and a fifty-two week high of $2.08.

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.