CBAK Energy Technology (NASDAQ:CBAT) Trading Up 6.9%

CBAK Energy Technology Inc (NASDAQ:CBAT) was up 6.9% during mid-day trading on Wednesday . The stock traded as high as $0.77 and last traded at $0.77, approximately 130,615 shares changed hands during trading. A decline of 23% from the average daily volume of 170,048 shares. The stock had previously closed at $0.72.

The business’s 50 day moving average is $0.86 and its 200-day moving average is $0.95. The company has a quick ratio of 0.43, a current ratio of 0.53 and a debt-to-equity ratio of 1.58.

A hedge fund recently bought a new stake in CBAK Energy Technology stock. Citadel Advisors LLC bought a new position in shares of CBAK Energy Technology Inc (NASDAQ:CBAT) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 530,872 shares of the company’s stock, valued at approximately $496,000. Citadel Advisors LLC owned about 1.67% of CBAK Energy Technology at the end of the most recent reporting period. 1.91% of the stock is currently owned by institutional investors.

CBAK Energy Technology Company Profile (NASDAQ:CBAT)

CBAK Energy Technology, Inc, through its subsidiaries, develops, manufactures, and sells lithium batteries in the People's Republic of China, Europe, South Korea, and Israel. Its products are used in various applications, including electric vehicles, such as electric cars, electric buses, and hybrid electric cars and buses; light electric vehicles that include electric bicycles, electric motors, and sight-seeing cars; and electric tools, energy storage, uninterruptible power supply, and other high power applications, as well as cordless power tools.

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