China BAK Battery, Inc. (NASDAQ:CBAT) Shares Shorted: Short Interest Up 47.7% in September

China BAK Battery, Inc. (NASDAQ:CBAT) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 882,475 shares, a growth of 47.7% from the August 31st total of 597,523 shares. Based on an average trading volume of 467,085 shares, the days-to-cover ratio is currently 1.9 days. Currently, 1.0% of the company’s shares are sold short.

China BAK Battery Stock Down 2.3%

China BAK Battery stock opened at $1.30 on Thursday. The stock has a market cap of $115.25 million, a PE ratio of -7.22 and a beta of 1.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.65 and a quick ratio of 0.44. China BAK Battery has a 1-year low of $0.46 and a 1-year high of $1.55. The stock’s fifty day moving average is $0.88 and its two-hundred day moving average is $0.79.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CBAT shares. Weiss Ratings reissued a “sell (d)” rating on shares of China BAK Battery in a research report on Friday, July 17th. Wall Street Zen upgraded shares of China BAK Battery to a “hold” rating in a report on Saturday, September 26th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

China BAK Battery Company Profile

China BAK Battery, Inc is a battery manufacturer headquartered in Dalian, China, and its shares trade on the Nasdaq under the symbol CBAT. The company develops and produces rechargeable lithium-ion battery cells, battery packs and related energy-storage products.

Its products are designed for applications including electric vehicles, electric bicycles and other light electric vehicles, consumer electronics, power tools, uninterruptible power supplies and stationary energy-storage systems.