CBAK Energy Technology (NASDAQ:CBAT) Announces Earnings Results

CBAK Energy Technology (NASDAQ:CBAT) posted its quarterly earnings results on Monday. The electronics maker reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.06), Zacks reports. CBAK Energy Technology had a net margin of 6.25% and a return on equity of 10.55%.

CBAK Energy Technology Stock Performance

CBAT stock opened at $0.85 on Monday. The stock’s 50 day simple moving average is $0.89 and its 200 day simple moving average is $0.96. The company has a market cap of $76.45 million, a P/E ratio of 7.08 and a beta of 1.59. CBAK Energy Technology has a fifty-two week low of $0.77 and a fifty-two week high of $2.08.

About CBAK Energy Technology

CBAK Energy Technology, Inc, together with its subsidiaries, manufacture, commercialization, and distribution of lithium ion high power rechargeable batteries in Mainland China, the United States, Europe, and internationally. The company operates in two segments, CBAK and Hitrans. Its lithium batteries are used in various applications, including electric vehicles, such as electric cars, electric buses, and hybrid electric cars and buses; light electric vehicles, such as electric bicycles, electric motors, electric tricycles, and smaller-sized electric cars; and electric tools, energy storage, uninterruptible power supply, and other high power applications, as well as cordless power tools.