Short Interest in CBAK Energy Technology, Inc. (NASDAQ:CBAT) Declines By 8.1%

CBAK Energy Technology, Inc. (NASDAQ:CBAT) saw a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 1,240,000 shares, a decline of 8.1% from the November 15th total of 1,350,000 shares. Based on an average daily trading volume, of 266,500 shares, the short-interest ratio is currently 4.7 days. Approximately 1.7% of the shares of the company are short sold.

CBAK Energy Technology Stock Up 2.7 %

Shares of CBAT stock opened at $0.86 on Wednesday. The stock has a 50 day moving average of $1.00 and a 200-day moving average of $1.14. The firm has a market cap of $77.26 million, a PE ratio of 7.16 and a beta of 1.78. CBAK Energy Technology has a 12 month low of $0.82 and a 12 month high of $2.08.

Hedge Funds Weigh In On CBAK Energy Technology

Several large investors have recently bought and sold shares of CBAT. Empowered Funds LLC increased its stake 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 valued at $388,000 after acquiring an additional 15,812 shares during the period. Marshall Wace LLP acquired a new position in shares of CBAK Energy Technology in the 2nd quarter valued at $171,000. XTX Topco Ltd bought a new position in shares of CBAK Energy Technology during the 3rd quarter worth about $46,000. Finally, PFG Investments LLC acquired a new stake in shares of CBAK Energy Technology during the 3rd quarter valued at about $44,000. 1.97% of the stock is currently owned by institutional investors and hedge funds.

CBAK Energy Technology Company Profile

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.