China BAK Battery (NASDAQ:CBAT) Announces Earnings Results

China BAK Battery (NASDAQ:CBAT) issued 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. China BAK Battery had a negative return on equity of 8.11% and a negative net margin of 4.80%.The business had revenue of $69.62 million during the quarter, compared to analysts’ expectations of $70.23 million.

China BAK Battery Stock Down 3.5%

Shares of CBAT stock traded down $0.03 during trading hours on Monday, reaching $0.76. 147,827 shares of the company’s stock were exchanged, compared to its average volume of 133,859. The stock’s fifty day moving average price is $0.85 and its two-hundred day moving average price is $0.88. The stock has a market cap of $67.02 million, a PE ratio of -7.59 and a beta of 1.30. China BAK Battery has a 1 year low of $0.72 and a 1 year high of $1.25. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 0.04.

Institutional Trading of China BAK Battery

An institutional investor recently raised its position in China BAK Battery stock. Empowered Funds LLC boosted its stake in China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 355,536 shares of the electronics maker’s stock after buying an additional 28,411 shares during the period. Empowered Funds LLC owned approximately 0.40% of China BAK Battery worth $283,000 at the end of the most recent quarter. 1.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of China BAK Battery in a report on Monday, April 20th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average 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.