China BAK Battery (NASDAQ:CBAT) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of China BAK Battery, Inc. (NASDAQ:CBAT) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.81 and traded as low as $0.5040. China BAK Battery shares last traded at $0.54, with a volume of 101,106 shares traded.

Wall Street Analyst Weigh In

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

China BAK Battery Stock Up 7.5%

The company has a debt-to-equity ratio of 0.08, a current ratio of 0.65 and a quick ratio of 0.44. The company has a market capitalization of $47.87 million, a price-to-earnings ratio of -3.00 and a beta of 1.31. The business has a 50 day simple moving average of $0.69 and a 200 day simple moving average of $0.81.

China BAK Battery (NASDAQ:CBAT) last posted its earnings results on Monday, May 18th. The electronics maker reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The firm had revenue of $69.62 million for the quarter, compared to analyst estimates of $70.23 million. China BAK Battery had a negative return on equity of 15.32% and a negative net margin of 7.43%. As a group, equities analysts predict that China BAK Battery, Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On China BAK Battery

An institutional investor recently raised its stake in China BAK Battery stock. Empowered Funds LLC boosted its holdings in shares of China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 0.40% of China BAK Battery worth $283,000 as of its most recent SEC filing. Institutional investors own 1.97% of the company’s stock.

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.