In last trading session, CBAK Energy Technology Inc (NASDAQ:CBAT) saw 0.32 million shares changing hands with its beta currently measuring 1.86. Company’s recent per share price level of $0.95 trading at $0.02 or 1.89% at ring of the bell on the day assigns it a market valuation of $85.02M. That closing price of CBAT’s stock is at a discount of -52.63% from its 52-week high price of $1.45 and is indicating a premium of 22.11% from its 52-week low price of $0.74. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.13 million shares which gives us an average trading volume of 126.38K if we extend that period to 3-months.
CBAK Energy Technology Inc (NASDAQ:CBAT) trade information
Upright in the green during last session for gaining 1.89%, in the last five days CBAT remained trading in the red while hitting it’s week-highest on Friday, 04/12/24 when the stock touched $0.95 price level, adding 7.77% to its value on the day. CBAK Energy Technology Inc’s shares saw a change of -9.51% in year-to-date performance and have moved -2.25% in past 5-day. CBAK Energy Technology Inc (NASDAQ:CBAT) showed a performance of -18.09% in past 30-days. Number of shares sold short was 1.04 million shares which calculate 7.01 days to cover the short interests.
CBAK Energy Technology Inc (CBAT) estimates and forecasts
Statistics highlight that CBAK Energy Technology Inc is scoring comparatively higher than the scores of other players of the relevant industry. The company added 19.05% of value to its shares in past 6 months, showing an annual growth rate of 166.67% while that of industry is 21.30. Apart from that, the company came raising its revenue forecast for fiscal year 2024. This year revenue growth is estimated to rise 36.30% from the last financial year’s standing.
1 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $62.78 million for the same. And 1 analysts are in estimates of company making revenue of $66.92 million in the next quarter that will end on Jun 2024. Company posted $80.2 million and $56.35 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -21.70% while estimating it to be 18.80% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 17.82% during past 5 years. In 2024, company’s earnings growth rate is likely to be around 166.67% while estimates for its earnings growth in next 5 years are of 30.00%.
CBAT Dividends
CBAK Energy Technology Inc is more likely to be releasing its next quarterly report in May and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
CBAK Energy Technology Inc (NASDAQ:CBAT)’s Major holders
Insiders are in possession of 19.88% of company’s total shares while institution are holding 2.03 percent of that, with stock having share float percentage of 2.53%. Investors also watch the number of corporate investors in a company very closely, which is 2.03% institutions for CBAK Energy Technology Inc that are currently holding shares of the company. State Street Corporation is the top institutional holder at CBAT for having 0.38 million shares of worth $0.46 million. And as of Jun 29, 2023, it was holding 0.42% of the company’s outstanding shares.
The second largest institutional holder is Bridgeway Capital Management, Inc., which was holding about 0.37 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 0.41% of outstanding shares, having a total worth of $0.45 million.
On the other hand, EA Series Trust-EA Bridgeway Omni Small-Cap Value ETF and SPDR Portfolio Emerging Markets ETF are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 0.21 million shares of worth $0.26 million or 0.24% of the total outstanding shares. The later fund manager was in possession of 0.17 million shares on Aug 30, 2023, making its stake of worth around $0.16 million in the company or a holder of 0.19% of company’s stock.
