CBAK Energy Technology Inc. [NASDAQ: CBAT] closed the trading session at $8.28 on 02/16/21. The day’s price range saw the stock hit a low of $7.32, while the highest price level was $8.28. The company report on February 11, 2021 that CBAK Energy Announces the Closing of $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 closed 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, and the concurrent private placement on February 10, 2021, as previously announced on February 8, 2021. The Company issued a total of 8,939,976 shares of common stock to certain institutional investors. The Company also issued Series A-1 Warrants to the investors to purchase a total of 4,469,988 shares of common stock and Series A-2 Warrants to purchase up to 2,234,992 shares of common stock, both of which were issued at an exercise 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. In addition, the Company issued Series B Warrants to the same investors to purchase a total of 4,469,988 shares of common stock at an exercise price of $7.83 per share, which are exercisable for 90 days from the issue date.
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.
The stocks have a year to date performance of 63.64 percent and weekly performance of 13.74 percent. The stock has been moved at 897.59 percent over the last six months. The stock has performed 23.40 percent around the most recent 30 days and changed 108.56 percent over the most recent 3-months.
If compared to the average trading volume of 13.43M shares, CBAT reached to a volume of 18807366 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about CBAK Energy Technology Inc. [CBAT]:
The Average True Range (ATR) for CBAK Energy Technology Inc. is set at 0.87, with the Price to Sales ratio for CBAT stock in the period of the last 12 months amounting to 26.71. The Price to Book ratio for the last quarter was 31.85, with the Price to Cash per share for the same quarter was set at 0.02.
CBAT stock trade performance evaluation
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 13.74. With this latest performance, CBAT shares gained by 23.40% in over the last four-week period, additionally plugging by 897.59% over the last 6 months – not to mention a rise of 1154.55% 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 60.21, with the RSI for the last a single of trading hit 63.40, and the three-weeks RSI is set at 58.57 for CBAK Energy Technology Inc. [CBAT]. The present Moving Average for the last 50 days of trading for this stock 6.59, while it was recorded at 7.59 for the last single week of trading, and 3.08 for the last 200 days.
CBAK Energy Technology Inc. [CBAT]: An insightful look at the core fundamentals
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.
Earnings per share (EPS) analysis for CBAK Energy Technology Inc. [CBAT] stock
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%.
CBAK Energy Technology Inc. [CBAT]: Insider Ownership positions
There are presently around $5 million, or 0.60% of CBAT stock, in the hands of institutional investors. The top three institutional holders of CBAT stocks are: PALOMA PARTNERS MANAGEMENT CO with ownership of 141,181, which is approximately New of the company’s market cap and around 60.17% of the total institutional ownership; CREATIVE PLANNING, holding 96,363 shares of the stock with an approximate value of $0.8 million in CBAT stocks shares; and SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC, currently with $0.79 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 22 institutional holders increased their position in CBAK Energy Technology Inc. [NASDAQ:CBAT] by around 643,470 shares. Additionally, 4 investors decreased positions by around 305,110 shares, while 1 investors held positions by with 295,710 shares. The mentioned changes placed institutional holdings at 652,870 shares, according to the latest SEC report filing. CBAT stock had 20 new institutional investments in for a total of 621,243 shares, while 4 institutional investors sold positions of 305,110 shares during the same period.