The stock of China BAK Battery Inc. (NASDAQ:CBAK) is a huge mover today! About 98,155 shares traded hands or 140.05% up from the average. China BAK Battery Inc. (NASDAQ:CBAK) has declined 9.24% since March 2, 2016 and is downtrending. It has underperformed by 17.49% the S&P500.
The move comes after 6 months negative chart setup for the $43.17M company. It was reported on Oct, 5 by Barchart.com. We have $1.94 PT which if reached, will make NASDAQ:CBAK worth $4.32M less.
According to Zacks Investment Research, “China BAK Battery, Inc. is one of the largest manufacturers of lithium-based battery cells in China and in the world. It produces battery cells that are the principal component of rechargeable batteries commonly used in cellular phones, notebook computers, cordless power tools and portable consumer electronics, such as digital media devices, portable media players, portable audio players, portable gaming devices and PDAs. China BAK Battery, Inc.’s one.nine million square feet facilities are located in Shenzhen, PRC, and have been recently expanded to produce new products. China BAK Battery, Inc. is the largest manufacturer of lithium-ion battery cells for China’s cellular phone replacement battery market.”
Insitutional Activity: The institutional sentiment decreased to 0.25 in Q2 2016. Its down 1.75, from 2 in 2016Q1. The ratio fall, as 3 funds sold all China BAK Battery Inc. shares owned while 1 reduced positions. 0 funds bought stakes while 1 increased positions. They now own 171,925 shares or 59.23% more from 107,973 shares in 2016Q1.
X Mgmt Ltd Liability Corp owns 152,562 shares or 0.02% of their US portfolio. Morgan Stanley owns 2,500 shares or 0% of their US portfolio. Savings Bank Of America De accumulated 126 shares or 0% of the stock. California Public Employees Retirement Systems holds 15,640 shares or 0% of its portfolio. Barclays Public Ltd holds 0% or 97 shares in its portfolio. Creative Planning has invested 0% of its portfolio in China BAK Battery Inc. (NASDAQ:CBAK).
More recent China BAK Battery Inc. (NASDAQ:CBAK) news were published by: Quotes.Wsj.com which released: “News China BAK Battery Inc.CBAK” on February 12, 2011. Also Thestreet.com published the news titled: “Why China Bak Battery (CBAK) Hit a One-Year High Today” on February 28, 2014. Seekingalpha.com‘s news article titled: “China BAK Battery: Don’t Be Fooled (CBAK)” with publication date: December 15, 2014 was also an interesting one.
CBAK Company Profile
China BAK Battery, Inc., incorporated on October 4, 1999, through its subsidiaries, is engaged in the manufacture, commercialization and distribution of various standard and customized lithium ion (Li-ion or Li-ion cell) high power rechargeable batteries. The Company’s products are sold to packing plants for use in mobile phones and other electronic devices. The Firm sells high power lithium batteries, which are used in applications, including electric vehicles (EV), such as electric cars, electric buses, hybrid electric cars and buses; light electric vehicles (LEV), such as electric bicycles, electric motors and sight-seeing cars, and electric tools, energy storage, uninterruptible power supply (UPS), and other high power applications. The Company’s clients include electric vehicle manufacturers, electric bicycle manufacturers, battery pack manufacturers, and manufacturers in UPS and other applications. The Firm has activities in Taiwan; Mainland China; Hong Kong, China, and India, among others.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.