The company is down by 4.35% at $1.70 and has one of the biggest price drops of the day. More than 294 shares have changed hands.
Traders are a little more bearish on the company lately as inferred by the change in short interest. The company realized a rise in short interest of 12.90% as of October 13, 2017 from the last reporting period. Short shares increased 21,678 over that timeframe. The days to cover decreased to 1.0 and the percentage of shorted shares is 0.01% as of October 13.
The most current P/E ratio is 1.21 and the market value is 44.58M. In the latest earnings report the EPS was $1.40 with 26.22M shares now outstanding.
CBAK Energy Technology, Inc., formerly China BAK Battery, Inc., launched on October 4, 1999, is a holding company. The Company and its subsidiaries are principally engaged in the manufacture, commercialization and distribution of a range of standard and customized lithium ion (Li-ion) rechargeable batteries for use in an array of applications. As of September 30, 2016, the Company manufactured five types of Li-ion rechargeable batteries: aluminum-case cell, battery pack, cylindrical cell, lithium polymer cell and high-power lithium battery cell. The Business’s products are sold to packing plants operated by third parties primarily for use in mobile phones and other electronic devices. The Company sells high power lithium batteries, which are used in various 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..