China BAK Battery, Inc. (NASDAQ:CBAT) Sees Significant Increase in Short Interest

China BAK Battery, Inc. (NASDAQ:CBAT) was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 203,647 shares, an increase of 69.8% from the April 30th total of 119,902 shares. Based on an average daily volume of 65,938 shares, the days-to-cover ratio is presently 3.1 days. Approximately 0.2% of the company’s shares are sold short.

Analysts Set New Price Targets

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

China BAK Battery Trading Down 2.3%

NASDAQ CBAT traded down $0.02 during trading hours on Wednesday, hitting $0.77. 19,211 shares of the company’s stock were exchanged, compared to its average volume of 134,454. The firm has a market cap of $68.54 million, a price-to-earnings ratio of -4.29 and a beta of 1.29. The stock has a 50-day simple moving average of $0.80 and a 200 day simple moving average of $0.87. The company has a current ratio of 0.65, a quick ratio of 0.44 and a debt-to-equity ratio of 0.08. China BAK Battery has a 1-year low of $0.70 and a 1-year high of $1.25.

China BAK Battery (NASDAQ:CBAT) last released its quarterly earnings data on Monday, May 18th. The electronics maker reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The company had revenue of $69.62 million during the quarter, compared to the consensus estimate of $70.23 million. China BAK Battery had a negative net margin of 7.43% and a negative return on equity of 15.32%. On average, equities analysts forecast that China BAK Battery will post -0.11 EPS for the current fiscal year.

Institutional Trading of China BAK Battery

An institutional investor recently raised its position in China BAK Battery stock. Empowered Funds LLC boosted its position in China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 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.