The stock of China BAK Battery Inc. (CBAK) is a huge mover today! The stock is up 5.63% or $0.17 after the news, hitting $3.15 per share. About 55,141 shares traded hands. China BAK Battery Inc. (NASDAQ:CBAK) has declined 11.50% since March 26, 2015 and is downtrending. It has underperformed by 13.17% the S&P500.
The move comes after 9 months positive chart setup for the $38.10M company. It was reported on Oct, 29 by Barchart.com. We have $4.19 PT which if reached, will make CBAK worth $12.57 million more.
Analysts await China BAK Battery Inc. (NASDAQ:CBAK) to reports earnings on November, 18.
According to Zacks, “China BAK Battery, Inc. is one of the largest manufacturers of lithium-based battery cells in China and in the world. It produces battery cells that are the principal component of rechargeable batteries commonly used in cellular phones, notebook computers, cordless power tools and portable consumer electronics, such as digital media devices, portable media players, portable audio players, portable gaming devices and PDAs. China BAK Battery, Inc.’s one.nine million square feet facilities are located in Shenzhen, PRC, and have been recently expanded to produce new products. China BAK Battery, Inc. is the largest manufacturer of lithium-ion battery cells for China’s cellular phone replacement battery market.”
The institutional sentiment increased to 1.4 in Q2 2015. Its up 1.10, from 0.3 in 2015Q1. The ratio improved, as 5 funds sold all China BAK Battery Inc. shares owned while 0 reduced positions. 4 funds bought stakes while 3 increased positions. They now own 156,505 shares or 87.06% more from 83,664 shares in 2015Q1.
Bank Of America Corp De holds 0% of its portfolio in China BAK Battery Inc. for 126 shares. Brandes Investment Partners Lp owns 33,400 shares or 0% of their US portfolio. Moreover, California Public Employees Retirement System has 0% invested in the company for 15,640 shares. The New York-based Citigroup Inc has invested 0% in the stock. Deutsche Bank Ag, a Germany-based fund reported 20,157 shares.
Since June 12, 2015, the stock had 0 buys, and 5 selling transactions for $542,101 net activity. Li Xiangqian sold 300 shares worth $990.
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