CBAK Energy Technology Inc. [NASDAQ: CBAT] stock went on a downward path that fall over -8.75% on Wednesday, amounting to a one-week price decrease of less than -17.98%. The company report on December 21, 2021 that CBAK Energy Enters into Agreement with AZAPA R&D China for Developing Customized Battery Pack.
CBAK Energy Technology, Inc. (NASDAQ: CBAT) (“CBAK Energy,” or the “Company”), a leading lithium-ion battery manufacturer and electric energy solution provider in China, today announced that its wholly-owned subsidiary CBAK New Energy (Nanjing) Co., Ltd. (“CBAK Nanjing”) has entered into an agreement with AZAPA R&D China (“AZAPA”) to develop a customized battery pack for the Sino-Japan joint venture that designs and produces electronic control systems and battery and control systems for electric vehicles.
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Pursuant to the agreement, this battery pack will initially be used for testing low-speed electric vehicles produced by Daihatsu Motor Co., a subsidiary of Toyota Motor Corporation, while CBAK Nanjing will cooperate with AZAPA to jointly explore international markets. CBAK will deliver three sample battery pack sets to AZAPA by February 2022.
Over the last 12 months, CBAT stock dropped by -72.91%. The one-year CBAK Energy Technology Inc. stock forecast points to a potential upside of 27.0.
The market cap for the stock reached $131.05 million, with 88.42 million shares outstanding and 53.62 million shares in the current float. Compared to the average trading volume of 2.75M shares, CBAT stock reached a trading volume of 2520587 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on CBAK Energy Technology Inc. [CBAT]:
The Average True Range (ATR) for CBAK Energy Technology Inc. is set at 0.15, with the Price to Sales ratio for CBAT stock in the period of the last 12 months amounting to 3.25. The Price to Book ratio for the last quarter was 1.06, with the Price to Cash per share for the same quarter was set at 0.03.
CBAT Stock Performance Analysis:
CBAK Energy Technology Inc. [CBAT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.98. With this latest performance, CBAT shares dropped by -27.36% in over the last four-week period, additionally sinking by -69.00% over the last 6 months – not to mention a drop of -72.91% 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 31.39, with the RSI for the last a single of trading hit 23.45, and the three-weeks RSI is set at 35.47 for CBAK Energy Technology Inc. [CBAT]. The present Moving Average for the last 50 days of trading for this stock 2.0432, while it was recorded at 1.6260 for the last single week of trading, and 3.4072 for the last 200 days.
Insight into CBAK Energy Technology Inc. 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 -11.00 and a Gross Margin at +7.22. CBAK Energy Technology Inc.’s Net Margin is presently recorded at -20.78.
Return on Total Capital for CBAT is now -7.05, given the latest momentum, and Return on Invested Capital for the company is -20.67. Return on Equity for this stock declined to -23.66, with Return on Assets sitting at -6.55. 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 28.61. Additionally, CBAT Total Debt to Total Capital is recorded at 22.25, with Total Debt to Total Assets ending up at 10.50.
Reflecting on the efficiency of the workforce at the company, CBAK Energy Technology Inc. [CBAT] managed to generate an average of -$14,538 per employee. Receivables Turnover for the company is 1.58 with a Total Asset Turnover recorded at a value of 0.32.CBAK Energy Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.20.
CBAT Stock EPS
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 Position Details
There are presently around $9 million, or 6.10% of CBAT stock, in the hands of institutional investors. The top three institutional holders of CBAT stocks are: STATE STREET CORP with ownership of 1,035,859, which is approximately -3.686% of the company’s market cap and around 39.68% of the total institutional ownership; JPMORGAN CHASE & CO, holding 982,009 shares of the stock with an approximate value of $1.57 million in CBAT stocks shares; and FIRST TRUST ADVISORS LP, currently with $1.09 million in CBAT stock with ownership of nearly -12.871% of the company’s market capitalization.
Positions in CBAK Energy Technology Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 18 institutional holders increased their position in CBAK Energy Technology Inc. [NASDAQ:CBAT] by around 2,011,460 shares. Additionally, 23 investors decreased positions by around 1,736,104 shares, while 4 investors held positions by with 1,619,942 shares. The mentioned changes placed institutional holdings at 5,367,506 shares, according to the latest SEC report filing. CBAT stock had 13 new institutional investments in for a total of 1,327,769 shares, while 6 institutional investors sold positions of 1,303,560 shares during the same period.