CBAK Energy Technology (NASDAQ:CBAT) Shares Up 17.5%

CBAK Energy Technology Inc (NASDAQ:CBAT) shot up 17.5% during trading on Monday . The company traded as high as $0.97 and last traded at $0.94, 390,980 shares traded hands during mid-day trading. An increase of 131% from the average session volume of 169,559 shares. The stock had previously closed at $0.80.

The stock’s 50 day moving average is $0.56 and its 200 day moving average is $0.79. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 0.82.

In other news, major shareholder Dawei Li bought 1,384,717 shares of CBAK Energy Technology stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $1.05 per share, for a total transaction of $1,453,952.85. Also, CEO Yunfei Li bought 2,938,067 shares of CBAK Energy Technology stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $1.05 per share, for a total transaction of $3,084,970.35. 20.25% of the stock is currently owned by corporate insiders.

A hedge fund recently bought a new stake in CBAK Energy Technology stock. Citadel Advisors LLC bought a new stake in CBAK Energy Technology Inc (NASDAQ:CBAT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 530,872 shares of the electronics maker’s stock, valued at approximately $496,000. Citadel Advisors LLC owned approximately 1.67% of CBAK Energy Technology at the end of the most recent quarter. 1.82% of the stock is owned by institutional investors.

About CBAK Energy Technology (NASDAQ:CBAT)

CBAK Energy Technology, Inc, through its subsidiaries, develops, manufactures, and sells lithium batteries in the People's Republic of China, Europe, South Korea, and Israel. Its 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.

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