China BAK Battery (NASDAQ:CBAT) Shares Pass Above 200-Day Moving Average – Here’s Why

China BAK Battery, Inc. (NASDAQ:CBAT)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.91 and traded as high as $1.04. China BAK Battery shares last traded at $1.03, with a volume of 87,053 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of China BAK Battery in a research note on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, China BAK Battery has an average rating of “Sell”.

China BAK Battery Stock Down 6.5%

The business’s fifty day moving average price is $0.92 and its two-hundred day moving average price is $0.91. The firm has a market capitalization of $84.12 million, a P/E ratio of -13.55 and a beta of 1.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.54 and a current ratio of 0.69.

Institutional Investors Weigh In On China BAK Battery

An institutional investor recently raised its position in China BAK Battery stock. Empowered Funds LLC grew its position in shares of China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% during the 1st quarter, according to the company in its most recent disclosure with the 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 approximately 0.40% of China BAK Battery worth $283,000 as of its most recent filing with the SEC. 1.97% of the stock is currently owned by 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.