Marshall Wace LLP recently announced the acquisition of new stake in CBAK Energy Technology Inc. (NASDAQ:CBAT). The institutional investor has increased its shareholding in the Industrials company by 1.48% to 0.4 million shares with purchase of 5900.0 shares. This fresh investment now brings its stake to 0.45% valued currently at $0.4 million. In addition, GSA Capital Partners LLP raised its holdings by 0.16 million to 0.33 million shares. And SSgA Funds Management, Inc. has lifted its position by 60.19% or 0.12 million shares – to 0.32 million shares.
With over 0.15 million CBAK Energy Technology Inc. (CBAT) shares trading Monday and a closing price of $1.15 on the day, the dollar volume was approximately $0.18 million. The shares have shown a negative half year performance of -0.86% and its price on 01/23/23 gained nearly 0.88%. Currently, there are 89.00M common shares owned by the public and among those 64.57M shares have been available to trade.
Top 5 Undervalued Stocks To Own In 2023
Microchip Maker Releases "World's Most Powerful Data Center CPU". It could allow the company who manufactures it to lead the industry as the global microchip shortage continues into the coming year. We've put together a free research report that explains all the details. Not only will you find out why analysts believe this chip manufacturer could lead the pack, you will also discover four more potential winners for the coming year.
Click here to download your Free Research Report…
Sponsored
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for CBAT have a consensus price objective of $10.00. The analysts have set the share’s price value over the next 12 months at a high of $10.00 and a low of $10.00. But an upside of 88.5% will see the stock hit the forecast high price target while median target price for the stock is $10.00.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in CBAK Energy Technology Inc. are SPDR Portfolio Emerging Markets E, SPDR S&P China ETF, and Invesco Golden Dragon China ETF. SPDR Portfolio Emerging Markets E owns 0.15 million shares of the company’s stock, all valued at over $0.15 million. Invesco Golden Dragon China ETF bought 420.0 shares to bring its total holdings to over 0.11 million shares at a value of $0.11 million. Invesco Golden Dragon China ETF now owns shares totaling to 0.13% of the shares outstanding.
Shares of CBAK Energy Technology Inc. (NASDAQ: CBAT) opened at $1.13, down -$0.01 from a prior closing price of $1.14. However, the script later moved the day high at 1.1700, up 0.88%. The company’s stock has a 5-day price change of 0.00% and 0.88% over the past three months. CBAT shares are trading 16.16% year to date (YTD), with the 12-month market performance down to -1.71% lower. It has a 12-month low price of $0.92 and touched a high of $1.70 over the same period. CBAT has an average intraday trading volume of 191.44K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.25%, 1.41%, and -3.46% respectively.
Institutional ownership of CBAK Energy Technology Inc. (NASDAQ: CBAT) shares accounts for 2.40% of the company’s 89.00M shares outstanding. Mutual fund holders own 1.65%, while other institutional holders and individual stakeholders account for 45.70% and 0.57% respectively.
It has a market capitalization of $99.67M and a beta (3y monthly) value of 2.66. The stock’s trailing 12-month PE ratio is 9.91, while the earnings-per-share (ttm) stands at $0.12. The company has a PEG of 0.33 and a Quick Ratio of 0.70 with the debt-to-equity ratio at 0.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.89% over the week and 3.65% over the month.
Analysts forecast that CBAK Energy Technology Inc. (CBAT) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2012. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.2 a year ago. EPS should shrink at an annualized rate of 30.00% over the next five years, compared to 52.70% over the past 5-year period.
Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
