CBAK Energy Technology Inc. (NASDAQ:CBAT) shares, rose in value on Thursday, 06/10/21, with the stock price down by -1.68% to the previous day’s close as strong demand from buyers drove the stock to $4.68.
Actively observing the price movement in the last trading, the stock closed the session at $4.76, falling within a range of $4.56 and $4.89. The PE ratio was 17.53 over 12-month period. Referring to stock’s 52-week performance, its high was $11.40, and the low was $0.56. On the whole, CBAT has fluctuated by 27.17% over the past month.
Wall Street analysts also predicted that in 2012, the company’s y-o-y revenues would reach $262.7 million, representing an increase of 22.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CBAT’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
1 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 1 analyst(s), 0 recommend it as a Buy and 0 called the CBAT stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Hold.
The stock’s technical analysis shows that the PEG ratio is about 0.58, with the price of CBAT currently trading nearly 15.37% and 6.93% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 59.26, while the 7-day volatility ratio is showing 7.39% which for the 30-day chart, stands at 6.59%. Furthermore, CBAK Energy Technology Inc. (CBAT)’s beta value is 3.36, and its average true range (ATR) is 0.28. The company’s stock has been forecasted to trade at an average price of $10.00 over the course of the next 52 weeks, with a low of $10.00 and a high of $10.00. Based on these price targets, the low is -113.68% off current price, whereas the price has to move -113.68% to reach the yearly target high. Additionally, analysts’ median price of $10.00 is likely to be welcomed by investors because it represents a decrease of -113.68% from the current levels.
A comparison of CBAK Energy Technology Inc. (CBAT) with its peers suggests the former has fared considerably weaker in the market. CBAT showed an intraday change of -1.68% in last session, and over the past year, it grew by 550.00%%. In comparison, Ultralife Corporation (ULBI) has moved lower at -3.09% on the day and was up 11.85% over the past 12 months. On the other hand, the price of Edgewell Personal Care Company (EPC) has fallen -0.46% on the day. The stock, however, is off 51.63% from where it was a year ago. The PE ratio stands at 17.53 for CBAK Energy Technology Inc., compared to 29.17 for Ultralife Corporation, and 43.22 for Edgewell Personal Care Company. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 0.47%. Meanwhile, the Dow Jones Industrial Improved by 0.06%.
Data on historical trading for CBAK Energy Technology Inc. (NASDAQ:CBAT) indicates that the trading volumes over the past 10 days have averaged 1.54 million and over the past 3 months, they’ve averaged 1.98 million. According to company’s latest data on outstanding shares, there are 84.28 million shares outstanding.
Nearly 51.96% of CBAK Energy Technology Inc.’s shares belong to company insiders and institutional investors own 4.20% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 2.4 million shares as on May 27, 2021, resulting in a short ratio of 2.04. According to the data, the short interest in CBAK Energy Technology Inc. (CBAT) stood at 2.71% of shares outstanding as of May 27, 2021; the number of short shares registered in Apr 29, 2021 reached 2.23 million. The stock has fallen by -7.51% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CBAT stock heading into the next quarter.