China BAK Battery (NASDAQ:CBAT) Issues Earnings Results, Misses Estimates By $0.05 EPS

China BAK Battery (NASDAQ:CBAT) released its earnings results on Monday. The electronics maker reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05), Zacks reports. The business 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 4.80% and a negative return on equity of 8.11%.

China BAK Battery Stock Performance

China BAK Battery stock traded down $0.03 during midday trading on Monday, hitting $0.76. The company’s stock had a trading volume of 148,754 shares, compared to its average volume of 133,914. China BAK Battery has a 1-year low of $0.72 and a 1-year high of $1.25. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.60 and a quick ratio of 0.43. The company has a 50-day moving average price of $0.85 and a two-hundred day moving average price of $0.88. The company has a market cap of $67.02 million, a price-to-earnings ratio of -7.56 and a beta of 1.30.

Hedge Funds Weigh In On China BAK Battery

A hedge fund recently raised its stake in China BAK Battery stock. Empowered Funds LLC lifted its stake in shares of China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 0.40% of China BAK Battery worth $283,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 1.97% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated 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 MarketBeat, the company currently has a consensus rating of “Sell”.

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.