CBAK Energy Technologies (NASDAQ: CBAT – Rated ) was the recipient of a sharp drop in short interest in November. As of November 15, short interest totaled 2.41 million shares, down 11.7% from 2.73 million shares on October 31. Currently, 4.5% of the company’s shares are sold short. Based on an average daily volume of 210,800 shares, the short interest rate is currently 11.4 days.
Institutional deal for CBAK Energy Technology
Some large investors have recently revised their CBAT holdings. Ergoteles LLC acquired a new stake in CBAK Energy Technology for $29,000 in the first quarter. Spire Wealth Management acquired a new stake in CBAK Energy Technology for $47,000 in the second quarter. In the second quarter, UBS increased its stake in CBAK Energy Technology by 257.7%. UBS Group AG now owns 69,346 shares of the electronics maker, worth $74,000, after buying an additional 49,962 shares last quarter. Jane Street Group LLC’s stake in CBAK Energy Technology increased by 31.8% in the first quarter. Jane Street Group LLC now owns 79,432 shares of the electronics maker worth $102,000 after buying an additional 19,149 shares last quarter. Finally, Goldman Sachs Group Inc. Its stake in CBAK Energy Technology rose 94.8% in the first quarter. Goldman Sachs now owns 91,519 shares of the electronics maker worth $117,000 after buying an additional 44,529 shares last quarter. 2.84% of shares are held by institutional investors and hedge funds.
CBAK Energy Technology trades up 4.2%
CBAT stock rose 5 cents to $1.23 during Friday’s trading session. 197,422 shares were exchanged against an average volume of 193,035 shares. The company has a market cap of $109.46 million, a price-to-earnings ratio of 11.18, and a beta of 2.59. CBAK Energy Technology had a 12-month low of $0.92 and a 12-month high of $2.28. The company’s 50-day simple moving average is $1.18 and the 200-day simple moving average is $1.22.
Brief introduction of China Bak Energy Technology Co., Ltd.
CBAK Energy Technology, Inc and its subsidiaries develop, manufacture and sell lithium batteries in mainland China, the United States, Korea, Europe and internationally. Its products are used in a variety of applications, including electric vehicles, such as electric vehicles, electric buses, hybrid electric vehicles, and buses; light-duty electric vehicles, including electric bicycles, electric motors, and sightseeing vehicles; and electric tools, energy storage, uninterrupted power supplies and other high power applications, and cordless power tools.
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