CBAK Energy Technology Inc. [NASDAQ: CBAT] loss -10.34% or -0.84 points to close at $7.28 with a heavy trading volume of 19305626 shares. The company report on February 8, 2021 that CBAK Energy Announces $70 Million Registered Direct Offering Priced At the Market Under Nasdaq Rules.
CBAK Energy Technology, Inc. (“CBAK Energy”, or the “Company,” NASDAQ: CBAT), a leading lithium-ion battery manufacturer and electric energy solution provider, announced that it has entered into a securities purchase agreement (the “Agreement”) with certain institutional investors for a registered direct placement of approximately $70 million of its common stock, priced at the market under applicable Nasdaq rules with a price of $7.83 per share. As part of the Agreement, the Company will issue certain Series A-1 Warrants to the investors to purchase a total of 4,469,988 shares of common stock and certain Series A-2 Warrants to purchase up to 2,234,992 shares of common stock, both of which are at a purchase price of $7.67 per share. Series A-1 Warrants and Series A-2 Warrants are exercisable for 42 months and 45 months, respectively, from the issue date. The Company will also issue certain Series B Warrants to the investors to purchase a total of 4,469,988 shares of common stock at a purchase price of $7.83 per share, which are exercisable for 90 days from the issue date.
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The Company intends to use the net proceeds from the offering to further accelerate the Company’s business plan, repay some of its outstanding debts, and fund any additional working capital needs.
It opened the trading session at $7.78, the shares rose to $7.87 and dropped to $7.25, the range by which the price of stock traded the whole day. The daily chart for CBAT points out that the company has recorded 746.22% gains over the past six months. However, it is still -1922.22% lower than its most recent low trading price.
If we look at the average trading volume of 12.79M shares, CBAT reached to a volume of 19305626 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about CBAK Energy Technology Inc. [CBAT]:
The Average True Range (ATR) for CBAK Energy Technology Inc. is set at 0.91, with the Price to Sales ratio for CBAT stock in the period of the last 12 months amounting to 20.64. The Price to Book ratio for the last quarter was 28.00, with the Price to Cash per share for the same quarter was set at 0.02.
Trading performance analysis for CBAT stock
CBAK Energy Technology Inc. [CBAT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.53. With this latest performance, CBAT shares dropped by -5.70% in over the last four-week period, additionally plugging by 746.22% over the last 6 months – not to mention a rise of 1039.35% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CBAT stock in for the last two-week period is set at 51.40, with the RSI for the last a single of trading hit 47.98, and the three-weeks RSI is set at 52.92 for CBAK Energy Technology Inc. [CBAT]. The present Moving Average for the last 50 days of trading for this stock 6.58, while it was recorded at 7.69 for the last single week of trading, and 2.90 for the last 200 days.
CBAK Energy Technology Inc. [CBAT]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and CBAK Energy Technology Inc. [CBAT] shares currently have an operating margin of -34.97 and a Gross Margin at +2.80. CBAK Energy Technology Inc.’s Net Margin is presently recorded at -48.51.
Return on Total Capital for CBAT is now -17.50, given the latest momentum, and Return on Invested Capital for the company is -48.88. Return on Equity for this stock declined to -154.70, with Return on Assets sitting at -9.65. When it comes to the capital structure of this company, CBAK Energy Technology Inc. [CBAT] has a Total Debt to Total Equity ratio set at 266.75. Additionally, CBAT Total Debt to Total Capital is recorded at 72.73, with Total Debt to Total Assets ending up at 37.97. Long-Term Debt to Equity for the company is recorded at 69.97, with the Long-Term Debt to Total Capital now at 19.08.
Reflecting on the efficiency of the workforce at the company, CBAK Energy Technology Inc. [CBAT] managed to generate an average of -$28,790 per employee. Receivables Turnover for the company is 1.12 with a Total Asset Turnover recorded at a value of 0.20.CBAK Energy Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.50.
CBAK Energy Technology Inc. [CBAT]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, CBAK Energy Technology Inc. posted -0.2/share EPS, while the average EPS was predicted by analysts to be reported at 0/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CBAT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for CBAK Energy Technology Inc. go to 30.00%.
An analysis of insider ownership at CBAK Energy Technology Inc. [CBAT]
There are presently around $3 million, or 0.70% of CBAT stock, in the hands of institutional investors. The top three institutional holders of CBAT stocks are: HRT FINANCIAL LP with ownership of 161,002, which is approximately 395.818% of the company’s market cap and around 60.17% of the total institutional ownership; TWO SIGMA ADVISERS, LP, holding 99,100 shares of the stock with an approximate value of $0.72 million in CBAT stocks shares; and CREATIVE PLANNING, currently with $0.7 million in CBAT stock with ownership of nearly New of the company’s market capitalization.
Positions in CBAK Energy Technology Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 9 institutional holders increased their position in CBAK Energy Technology Inc. [NASDAQ:CBAT] by around 367,092 shares. Additionally, 3 investors decreased positions by around 88,222 shares, while 1 investors held positions by with 7,692 shares. The mentioned changes placed institutional holdings at 447,622 shares, according to the latest SEC report filing. CBAT stock had 6 new institutional investments in for a total of 232,212 shares, while 1 institutional investors sold positions of 27,078 shares during the same period.