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

China BAK Battery (NASDAQ:CBAT) announced its quarterly 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. The business had revenue of $69.62 million during the quarter, compared to analyst estimates of $70.23 million. China BAK Battery had a negative net margin of 4.80% and a negative return on equity of 8.11%.

China BAK Battery Stock Performance

NASDAQ CBAT traded down $0.03 on Monday, reaching $0.76. The stock had a trading volume of 147,827 shares, compared to its average volume of 133,859. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.43 and a current ratio of 0.60. China BAK Battery has a 12-month low of $0.72 and a 12-month high of $1.25. The business’s 50-day moving average price is $0.85 and its 200 day moving average price is $0.88. The stock has a market cap of $67.02 million, a P/E ratio of -7.59 and a beta of 1.30.

Analyst Ratings Changes

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

Institutional Investors Weigh In On China BAK Battery

An institutional investor recently raised its position in China BAK Battery stock. Empowered Funds LLC lifted its stake in shares of 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 fund owned 355,536 shares of the electronics maker’s stock after purchasing 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. Institutional investors own 1.97% of the company’s stock.

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.