China BAK Battery, Inc. (NASDAQ:CBAT) Sees Large Increase in Short Interest

China BAK Battery, Inc. (NASDAQ:CBAT) was the recipient of a large increase in short interest in May. As of May 15th, there was short interest totaling 203,647 shares, an increase of 69.8% from the April 30th total of 119,902 shares. Based on an average daily volume of 65,938 shares, the short-interest ratio is presently 3.1 days. Approximately 0.2% of the company’s shares are sold short.

China BAK Battery Trading Down 2.7%

Shares of NASDAQ:CBAT opened at $0.77 on Thursday. China BAK Battery has a 12-month low of $0.70 and a 12-month high of $1.25. The company has a quick ratio of 0.44, a current ratio of 0.65 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $68.26 million, a P/E ratio of -4.28 and a beta of 1.29. The firm has a fifty day moving average of $0.80 and a two-hundred day moving average of $0.87.

China BAK Battery (NASDAQ:CBAT) last announced its quarterly earnings data on Monday, May 18th. The electronics maker reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). China BAK Battery had a negative return on equity of 15.32% and a negative net margin of 7.43%.The firm had revenue of $69.62 million for the quarter, compared to analysts’ expectations of $70.23 million. On average, equities analysts expect that China BAK Battery will post -0.11 EPS 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 raised its holdings in China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 355,536 shares of the electronics maker’s stock after acquiring an additional 28,411 shares during the quarter. Empowered Funds LLC owned about 0.40% of China BAK Battery worth $283,000 at the end of the most recent quarter. 1.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of China BAK Battery in a report on Monday, April 20th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, China BAK Battery presently 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.