Short Interest in CBAK Energy Technology, Inc. (NASDAQ:CBAT) Declines By 8.1%

CBAK Energy Technology, Inc. (NASDAQ:CBAT) saw a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 1,240,000 shares, a decline of 8.1% from the November 15th total of 1,350,000 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average trading volume of 266,500 shares, the days-to-cover ratio is currently 4.7 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CBAT. PFG Investments LLC bought a new position in shares of CBAK Energy Technology in the 3rd quarter valued at about $44,000. XTX Topco Ltd bought a new position in CBAK Energy Technology during the third quarter worth about $46,000. Marshall Wace LLP bought a new stake in shares of CBAK Energy Technology in the second quarter valued at approximately $171,000. Finally, Empowered Funds LLC grew its holdings in shares of CBAK Energy Technology by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 310,337 shares of the electronics maker’s stock worth $388,000 after purchasing an additional 15,812 shares in the last quarter. 1.97% of the stock is owned by institutional investors and hedge funds.

CBAK Energy Technology Stock Performance

Shares of CBAT stock opened at $0.84 on Monday. The stock has a market cap of $75.59 million, a PE ratio of 7.00 and a beta of 1.78. The firm’s 50 day moving average price is $1.01 and its two-hundred day moving average price is $1.15. CBAK Energy Technology has a 52-week low of $0.82 and a 52-week high of $2.08.

CBAK Energy Technology Company Profile

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.