In the last trading session, 41,794,052 shares of the CBAK Energy Technology, Inc.(NASDAQ:CBAT) were traded, and its beta was 3.4. Most recently the company’s share price was $8.28, and it changed around $0.39 or 0.05% from the last close, which brings the market valuation of the company to $729.52 Million. CBAT currently trades at a discount to its 52-week high of $11.4, offering almost -37.68% off that amount. The share price’s 52-week low was $0.36, which indicates that the current value has risen by an impressive 95.65% since then. We note from CBAK Energy Technology, Inc.’s average daily trading volume that its 10-day average is 23.68 Million shares, with the 3-month average coming to 10.89 Million.
CBAK Energy Technology, Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 0. If we narrow it down even further, the data shows that none out of 1 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 1 recommended CBAT as a Hold, whereas none deemed it a Buy, and no one rated it as Underweight. CBAK Energy Technology, Inc. is expected to report earnings per share of $0 for the current quarter.
CBAK Energy Technology, Inc. (NASDAQ:CBAT): Trading Information
Instantly CBAT has showed a green trend with a performance of 4.94% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $9.59- on Friday, Feb 19 increased the stock’s daily price by 13.66%. The company’s shares are currently up 0.64% year-to-date, but still up 0.1342 over the last five days. On the other hand, CBAK Energy Technology, Inc. (NASDAQ:CBAT) is 0.16% up in the 30-day period. We can see from the shorts that 5.37 Million shares have been sold at a short interest cover period of 0.49 day(s).
The consensus price target as assigned by Wall Street analysts is $10, which translates to bears needing to increase their stock price by 20.77% from its current value. Analyst projections state that CBAT is forecast to be at a low of $10 and a high of $10. In order for the stock price to hit the forecast high, the stock would need to surge +20.77% from its current level, while the stock would need to crash 20.77% from its current level to reach the projected low.
CBAK Energy Technology, Inc. (CBAT) projections and forecasts
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -17.6%. CBAK Energy Technology, Inc. earnings are expected to decrease by -278.2% in 2021, but the outlook is positive 30% per year for the next five years.
CBAK Energy Technology, Inc. (NASDAQ:CBAT)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 60.17% of CBAK Energy Technology, Inc. shares, and 0.5% of them are in the hands of institutional investors. The stock currently has a share float of 1.25%. CBAK Energy Technology, Inc. stock is held by 10 institutions, with HRT Financial LLC being the largest institutional investor. By Sep 29, 2020, it held 0.24% of the shares, which is about 161Thousand shares worth $325.22 Thousand.
Two Sigma Advisers, LP, with 0.15% or 99.1 Thousand shares worth $200.18 Thousand as of Sep 29, 2020, holds the second largest percentage of outstanding shares.
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