CBAK Energy Technology Inc (NASDAQ:CBAT) shares shot up 25.7% on Thursday . The company traded as high as $2.72 and last traded at $2.54. 12,934,431 shares changed hands during mid-day trading, an increase of 424% from the average session volume of 2,467,923 shares. The stock had previously closed at $2.02.
The stock’s 50 day simple moving average is $0.95 and its two-hundred day simple moving average is $0.70. The firm has a market cap of $131.60 million, a P/E ratio of -10.58 and a beta of 3.06.
CBAK Energy Technology (NASDAQ:CBAT) last posted its quarterly earnings results on Thursday, July 2nd. The electronics maker reported ($0.04) earnings per share for the quarter. CBAK Energy Technology had a negative return on equity of 71.22% and a negative net margin of 37.98%. The company had revenue of $6.90 million during the quarter.
CBAK Energy Technology, Inc, through its subsidiaries, develops, manufactures, and sells lithium batteries in the People's Republic of China, Europe, South Korea, and Israel. Its products are used in various applications, including electric vehicles, such as electric cars, electric buses, and hybrid electric cars and buses; light electric vehicles that include electric bicycles, electric motors, and sight-seeing cars; and electric tools, energy storage, uninterruptible power supply, and other high power applications, as well as cordless power tools.
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