CBAK Energy Technology Inc. (NASDAQ:CBAT) shares traded 0.91% higher at $0.99 on Wall Street last session.
In accordance with the data, 1 analysts cover CBAK Energy Technology Inc. (NASDAQ:CBAT). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $10.00 and a low of $10.00, we find $10.00. Given the previous closing price of $0.98, this indicates a potential upside of 920.41 percent. CBAT stock price is now -14.51% away from the 50-day moving average and -17.65% away from the 200-day moving average. The market capitalization of the company currently stands at $87.30M.
It has been rated a hold by 1 analysts and a buy by 0. Brokers who have rated the stock have averaged $10.00 as their price target over the next twelve months.
A total of 27.45% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CBAT stock. A new stake in CBAK Energy Technology Inc. shares was purchased by INVESCO LTD. during the first quarter worth $122,000. JPMORGAN CHASE & CO invested $4,000 in shares of CBAT during the first quarter. In the first quarter, COWA, LLC acquired a new stake in CBAK Energy Technology Inc. valued at approximately $2,000. BANK OF AMERICA CORP /DE/ acquired a new stake in CBAT for approximately $1,000. In total, there are 30 active investors with 2.40% ownership of the company’s stock.
CBAK Energy Technology Inc. (NASDAQ: CBAT) opened at $0.9813 on Friday. During the past 12 months, CBAK Energy Technology Inc. has had a low of $0.92 and a high of $1.70. As of last week, the company has a debt-to-equity ratio of 0.18, a current ratio of 1.10, and a quick ratio of 0.70. The fifty day moving average price for CBAT is $1.1548 and a two-hundred day moving average price translates $1.2011 for the stock.
The latest earnings results from CBAK Energy Technology Inc. (NASDAQ: CBAT) was released for Jun, 2022. According to the Electrical Equipment & Parts Company, earnings per share came in at -$0.3, missing analysts’ expectations of -$0.04 by -0.26. This compares to $0.23 EPS in the same period last year. The net profit margin was 4.70% and return on equity was 8.10% for CBAT. The company reported revenue of $57.72 million for the quarter, compared to $9.56 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 503.66 percent.
CBAK Energy Technology Inc.(CBAT) Company Profile
CBAK Energy Technology, Inc., together with its subsidiaries, develops, manufactures, and sells lithium batteries in Mainland China, the United States, Korea, Europe, and internationally. 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. The company was formerly known as China BAK Battery, Inc. and changed its name to CBAK Energy Technology, Inc. in January 2017. CBAK Energy Technology, Inc. was incorporated in 1999 and is based in Dalian, China.