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

China BAK Battery, Inc. (NASDAQ:CBAT) was the target of a significant drop in short interest during the month of April. As of April 15th, there was short interest totaling 164,352 shares, a drop of 31.8% from the March 31st total of 240,925 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average trading volume of 51,278 shares, the short-interest ratio is presently 3.2 days.

China BAK Battery Trading Up 4.8%

NASDAQ CBAT traded up $0.04 during mid-day trading on Thursday, reaching $0.81. 25,742 shares of the stock were exchanged, compared to its average volume of 142,651. The business’s fifty day simple moving average is $0.90 and its 200 day simple moving average is $0.90. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.43 and a current ratio of 0.60. China BAK Battery has a 1-year low of $0.75 and a 1-year high of $1.25. The stock has a market capitalization of $71.71 million, a PE ratio of -8.09 and a beta of 1.36.

China BAK Battery (NASDAQ:CBAT) last issued its quarterly earnings results on Monday, March 30th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). China BAK Battery had a negative return on equity of 8.11% and a negative net margin of 4.80%.The business had revenue of $58.80 million during the quarter, compared to analyst estimates of $64.57 million. On average, research analysts anticipate that China BAK Battery will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On China BAK Battery

A hedge fund recently raised its stake in China BAK Battery stock. Empowered Funds LLC grew its position in China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 355,536 shares of the electronics maker’s stock after purchasing 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 Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of China BAK Battery in a research note on Monday, April 20th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average 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.