China BAK Battery (NASDAQ:CBAT) Stock Price Passes Below 200 Day Moving Average – Here’s Why

China BAK Battery, Inc. (NASDAQ:CBAT) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.80 and traded as low as $0.4878. China BAK Battery shares last traded at $0.5004, with a volume of 113,423 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of China BAK Battery in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

China BAK Battery Price Performance

The firm has a market cap of $46.32 million, a price-to-earnings ratio of -2.90 and a beta of 1.31. The stock’s 50-day moving average price is $0.65 and its 200 day moving average price is $0.80. The company has a quick ratio of 0.44, a current ratio of 0.65 and a debt-to-equity ratio of 0.08.

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

Institutional Investors Weigh In On China BAK Battery

A hedge fund recently raised its stake in China BAK Battery stock. Empowered Funds LLC boosted its stake in shares of China BAK Battery, Inc. (NASDAQ:CBAT) by 8.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 355,536 shares of the electronics maker’s stock after purchasing an additional 28,411 shares during the period. Empowered Funds LLC owned 0.40% of China BAK Battery worth $283,000 as of its most recent filing with the SEC. 1.97% of the stock is currently owned by institutional investors and hedge funds.

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.