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

China BAK Battery, Inc. (NASDAQ:CBAT)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.80 and traded as low as $0.4878. China BAK Battery shares last traded at $0.5004, with a volume of 113,423 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of China BAK Battery in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

China BAK Battery Stock Performance

The firm has a market capitalization of $44.36 million, a price-to-earnings ratio of -2.78 and a beta of 1.31. The company has a 50-day moving average price of $0.66 and a 200-day moving average price of $0.80. The company has a quick ratio of 0.44, a current ratio of 0.65 and a debt-to-equity ratio of 0.08.

China BAK Battery (NASDAQ:CBAT) last posted its earnings results on Monday, May 18th. The electronics maker reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). 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 7.43% and a negative return on equity of 15.32%. As a group, equities research analysts forecast that China BAK Battery, Inc. will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On China BAK Battery

An institutional investor recently raised its stake in China BAK Battery stock. Empowered Funds LLC increased 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 & Exchange Commission. The firm 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. 1.97% of the stock is currently owned by institutional investors.

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.