China BAK Battery (NASDAQ:CBAT) Announces Earnings Results, Misses Estimates By $0.05 EPS

China BAK Battery (NASDAQ:CBAT) posted its earnings results on Monday. The electronics maker reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05), Zacks reports. China BAK Battery had a negative net margin of 7.43% and a negative return on equity of 14.91%. The firm had revenue of $69.62 million during the quarter, compared to analyst estimates of $70.23 million.

China BAK Battery Stock Performance

NASDAQ CBAT opened at $0.73 on Wednesday. The company has a market cap of $64.71 million, a P/E ratio of -4.06 and a beta of 1.30. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.60 and a quick ratio of 0.43. The stock has a 50-day moving average of $0.84 and a two-hundred day moving average of $0.88. China BAK Battery has a 1-year low of $0.70 and a 1-year high of $1.25.

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 stake in China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 355,536 shares of the electronics maker’s stock after buying an additional 28,411 shares during the quarter. Empowered Funds LLC owned 0.40% of China BAK Battery worth $283,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 1.97% of the company’s stock.

Analyst Upgrades and Downgrades

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