China BAK Battery, Inc. (NASDAQ:CBAT) Short Interest Update

China BAK Battery, Inc. (NASDAQ:CBAT) was the recipient of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 328,412 shares, a growth of 133.2% from the January 29th total of 140,849 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average trading volume of 195,398 shares, the short-interest ratio is currently 1.7 days. Based on an average trading volume of 195,398 shares, the short-interest ratio is currently 1.7 days. Approximately 0.4% of the shares of the company 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 Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

China BAK Battery Trading Up 1.0%

CBAT traded up $0.01 during trading on Friday, hitting $1.02. 483,232 shares of the company’s stock were exchanged, compared to its average volume of 198,957. The stock has a 50 day moving average price of $0.88 and a 200 day moving average price of $0.91. China BAK Battery has a 1 year low of $0.57 and a 1 year high of $1.25. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.04. The firm has a market cap of $90.42 million, a P/E ratio of -14.57 and a beta of 1.30.

Institutional Investors Weigh In On China BAK Battery

A hedge fund recently raised its stake in China BAK Battery stock. Empowered Funds LLC increased its holdings in China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% in the first quarter, according to its most recent 13F 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 quarter. Empowered Funds LLC owned about 0.40% of China BAK Battery worth $283,000 at the end of the most recent reporting period. 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.