Short Interest in CBAK Energy Technology, Inc. (NASDAQ:CBAT) Declines By 11.7%
CBAK Energy Technology, Inc. (NASDAQ:CBAT - Get Rating) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 2,410,000 shares, a drop of 11.7% from the October 31st total of 2,730,000 shares. Currently, 4.5% of the shares of the company are short sold. Based on an average daily trading volume, of 210,800 shares, the short-interest ratio is presently 11.4 days.
Institutional Trading of CBAK Energy Technology
Several large investors have recently modified their holdings of CBAT. Ergoteles LLC acquired a new stake in shares of CBAK Energy Technology during the 1st quarter worth $29,000. Spire Wealth Management acquired a new stake in shares of CBAK Energy Technology during the 2nd quarter worth $47,000. UBS Group AG grew its holdings in shares of CBAK Energy Technology by 257.7% during the 2nd quarter. UBS Group AG now owns 69,346 shares of the electronics maker's stock worth $74,000 after purchasing an additional 49,962 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of CBAK Energy Technology by 31.8% during the 1st quarter. Jane Street Group LLC now owns 79,432 shares of the electronics maker's stock worth $102,000 after purchasing an additional 19,149 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of CBAK Energy Technology by 94.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 91,519 shares of the electronics maker's stock worth $117,000 after purchasing an additional 44,529 shares in the last quarter. 2.84% of the stock is owned by institutional investors and hedge funds.
CBAK Energy Technology Trading Up 4.2 %
CBAT stock traded up $0.05 during trading hours on Friday, hitting $1.23. 197,422 shares of the stock were exchanged, compared to its average volume of 193,035. The firm has a market capitalization of $109.46 million, a P/E ratio of 11.18 and a beta of 2.59. CBAK Energy Technology has a 12 month low of $0.92 and a 12 month high of $2.28. The company has a 50-day simple moving average of $1.18 and a two-hundred day simple moving average of $1.22.
CBAK Energy Technology Company Profile
CBAK Energy Technology, Inc, together with its subsidiaries, develops, manufactures, and sells lithium batteries in Mainland China, the United States, Korea, Europe, and internationally. Its products are used in various applications, including electric vehicles, such as electric cars, electric buses, and hybrid electric cars and buses; light electric vehicles that include electric bicycles, electric motors, and sight-seeing cars; and electric tools, energy storage, uninterruptible power supply, and other high power applications, as well as cordless power tools.
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