CBAK Energy Technology Inc (NASDAQ:CBAT) Short Interest Up 158.1% in August

CBAK Energy Technology Inc (NASDAQ:CBAT) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 27,100 shares, a growth of 158.1% from the July 31st total of 10,500 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 147,000 shares, the days-to-cover ratio is currently 0.2 days.

A hedge fund recently bought a new stake in CBAK Energy Technology stock. Citadel Advisors LLC purchased a new stake in shares of CBAK Energy Technology Inc (NASDAQ:CBAT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 530,872 shares of the company’s stock, valued at approximately $496,000. Citadel Advisors LLC owned approximately 1.67% of CBAK Energy Technology as of its most recent SEC filing. Institutional investors own 1.91% of the company’s stock.

NASDAQ:CBAT traded up $0.05 on Wednesday, reaching $0.77. 130,615 shares of the stock traded hands, compared to its average volume of 170,048. The company has a quick ratio of 0.43, a current ratio of 0.53 and a debt-to-equity ratio of 1.58. CBAK Energy Technology has a 12 month low of $0.23 and a 12 month high of $1.23. The company’s fifty day simple moving average is $0.86 and its 200 day simple moving average is $0.95.

About CBAK Energy Technology

CBAK Energy Technology, Inc, through its subsidiaries, develops, manufactures, and sells lithium batteries in the People's Republic of China, Europe, South Korea, and Israel. Its products are used in various applications, including electric vehicles, such as electric cars, electric buses, and hybrid electric cars and buses; light electric vehicles that include electric bicycles, electric motors, and sight-seeing cars; and electric tools, energy storage, uninterruptible power supply, and other high power applications, as well as cordless power tools.

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