What’s Next for Cbak Energy Technology Inc (NASDAQ:CBAK) After Having Less Shares Shorted?

April 20, 2018 - By Stephen Andrade

The stock of Cbak Energy Technology Inc (NASDAQ:CBAK) registered a decrease of 5.89% in short interest. CBAK’s total short interest was 204,700 shares in April as published by FINRA. Its down 5.89% from 217,500 shares, reported previously. With 24,400 shares average volume, it will take short sellers 8 days to cover their CBAK’s short positions. The short interest to Cbak Energy Technology Inc’s float is 0.92%.

The stock decreased 3.70% or $0.05 during the last trading session, reaching $1.3. About 5,506 shares traded. CBAK Energy Technology, Inc. (NASDAQ:CBAK) has risen 12.00% since April 20, 2017 and is uptrending. It has outperformed by 0.45% the S&P500.

CBAK Energy Technology, Inc., through its subsidiaries, develops, makes, and sells energy high power lithium batteries in the PeopleÂ’s Republic of China, Europe, South Korea, and Israel. The company has market cap of $34.09 million. The Company’s 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. It currently has negative earnings. The firm was formerly known as China BAK Battery, Inc. and changed its name to CBAK Energy Technology, Inc. in January 2017.

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