China BAK Battery, Inc. (NASDAQ:CBAT) Short Interest Update

China BAK Battery, Inc. (NASDAQ:CBAT) was the recipient of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 122,784 shares, a decrease of 65.9% from the February 26th total of 360,147 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 175,774 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily volume of 175,774 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.1% of the company’s shares are sold short.

China BAK Battery Price Performance

China BAK Battery stock opened at $0.83 on Wednesday. China BAK Battery has a 1 year low of $0.57 and a 1 year high of $1.25. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.54 and a current ratio of 0.69. The firm has a 50 day moving average price of $0.92 and a 200 day moving average price of $0.91. The company has a market cap of $73.45 million, a price-to-earnings ratio of -11.83 and a beta of 1.26.

Institutional Trading of China BAK Battery

A hedge fund recently raised its stake in China BAK Battery stock. Empowered Funds LLC lifted its position in shares of China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 355,536 shares of the electronics maker’s stock after buying an additional 28,411 shares during the period. Empowered Funds LLC owned approximately 0.40% of China BAK Battery worth $283,000 as of its most recent SEC filing. Institutional investors own 1.97% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of China BAK Battery in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

About China BAK Battery

China BAK Battery Inc (NASDAQ: CBAT) is a China-based developer and manufacturer of rechargeable lithium-ion batteries and related power solutions. The company’s core product lines include small, medium and large format batteries, battery modules and pack assemblies designed for consumer electronics, electric vehicles, energy storage systems and other industrial applications. China BAK Battery offers polymer lithium-ion cells, prismatic and cylindrical cells, as well as integrated battery systems tailored to meet the performance requirements of its clients.

Founded in 2001 and headquartered in Shenzhen, China BAK Battery has expanded its manufacturing footprint and research and development capabilities over the years to serve customers across Asia, Europe and North America.