China BAK Battery (NASDAQ:CBAT) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

China BAK Battery, Inc. (NASDAQ:CBAT) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.94 and traded as low as $0.8525. China BAK Battery shares last traded at $0.8607, with a volume of 223,745 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of China BAK Battery in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

China BAK Battery Stock Performance

The stock has a market cap of $74.73 million, a PE ratio of -12.04 and a beta of 1.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.69 and a quick ratio of 0.54. The stock has a 50-day simple moving average of $0.88 and a 200-day simple moving average of $0.93.

China BAK Battery (NASDAQ:CBAT) last released its quarterly earnings data on Monday, November 10th. The electronics maker reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.07. China BAK Battery had a negative return on equity of 5.50% and a negative net margin of 4.03%.The company had revenue of $60.92 million for the quarter, compared to the consensus estimate of $39.27 million. Equities analysts predict that China BAK Battery, Inc. will post 0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in China BAK Battery stock. Empowered Funds LLC lifted its stake in China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 355,536 shares of the electronics maker’s stock after buying 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. 1.97% of the stock is owned by hedge funds and other institutional investors.

China BAK Battery Company Profile

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.