CBAK Energy Technology, Inc. (NASDAQ:CBAT) Short Interest Up 35.1% in December

CBAK Energy Technology, Inc. (NASDAQ:CBAT) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,770,000 shares, an increase of 35.1% from the December 15th total of 1,310,000 shares. Based on an average daily volume of 569,300 shares, the days-to-cover ratio is presently 3.1 days. Approximately 2.5% of the company’s shares are sold short.

Hedge Funds Weigh In On CBAK Energy Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC increased its stake in CBAK Energy Technology by 5.4% during the third quarter. Empowered Funds LLC now owns 310,337 shares of the electronics maker’s stock worth $388,000 after purchasing an additional 15,812 shares during the period. Marshall Wace LLP purchased a new position in shares of CBAK Energy Technology in the second quarter valued at approximately $171,000. XTX Topco Ltd acquired a new position in shares of CBAK Energy Technology in the third quarter valued at approximately $46,000. Finally, PFG Investments LLC purchased a new stake in CBAK Energy Technology during the 3rd quarter worth approximately $44,000. 1.97% of the stock is currently owned by hedge funds and other institutional investors.

CBAK Energy Technology Stock Up 1.4 %

CBAT opened at $0.91 on Thursday. CBAK Energy Technology has a 52 week low of $0.77 and a 52 week high of $2.08. The business has a fifty day simple moving average of $0.93 and a 200-day simple moving average of $1.05. The firm has a market cap of $82.23 million, a P/E ratio of 7.62 and a beta of 1.74.

About CBAK Energy Technology

CBAK Energy Technology, Inc, together with its subsidiaries, manufacture, commercialization, and distribution of lithium ion high power rechargeable batteries in Mainland China, the United States, Europe, and internationally. The company operates in two segments, CBAK and Hitrans. Its lithium batteries are used in various applications, including electric vehicles, such as electric cars, electric buses, and hybrid electric cars and buses; light electric vehicles, such as electric bicycles, electric motors, electric tricycles, and smaller-sized electric cars; and electric tools, energy storage, uninterruptible power supply, and other high power applications, as well as cordless power tools.