China BAK Battery, Inc. (NASDAQ:CBAT) Short Interest Up 32.3% in August

China BAK Battery, Inc. (NASDAQ:CBAT) was the target of a large growth in short interest during the month of August. As of August 15th, there was short interest totaling 1,260,000 shares, agrowthof32.3% from the July 31st total of 952,400 shares. Currently,1.8% of the shares of the company are short sold. Based on an average trading volume of 241,000 shares, the days-to-cover ratio is presently 5.2 days. Based on an average trading volume of 241,000 shares, the days-to-cover ratio is presently 5.2 days. Currently,1.8% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of China BAK Battery from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th.

China BAK Battery Stock Performance

Shares of NASDAQ CBAT opened at $0.91 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.53 and a current ratio of 0.72. The company has a market cap of $80.67 million, a P/E ratio of -9.10 and a beta of 1.88. The firm’s fifty day moving average is $1.01 and its two-hundred day moving average is $0.92. China BAK Battery has a 52-week low of $0.57 and a 52-week high of $1.30.

China BAK Battery (NASDAQ:CBAT) last announced its quarterly earnings results on Monday, August 18th. The electronics maker reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $40.52 million for the quarter, compared to the consensus estimate of $33.56 million. China BAK Battery had a negative net margin of 6.29% and a negative return on equity of 7.54%. As a group, analysts anticipate that China BAK Battery will post 0.19 EPS for the current fiscal year.

Institutional Trading of China BAK Battery

A number of large investors have recently made changes to their positions in the business. Empowered Funds LLC increased its holdings in shares of China BAK Battery by 8.7% in the 1st quarter. Empowered Funds LLC now owns 355,536 shares of the electronics maker’s stock worth $283,000 after buying an additional 28,411 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of China BAK Battery in the 1st quarter worth about $27,000. Finally, Bridgeway Capital Management LLC increased its holdings in shares of China BAK Battery by 2.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 687,125 shares of the electronics maker’s stock worth $646,000 after buying an additional 16,788 shares during the last quarter. 1.97% of the stock is currently owned by institutional investors.

About China BAK Battery

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.