CBAK Energy Technology, Inc. (CBAK) on Focus After Trading At 52-Week Lows

May 30, 2018 - By Marie Mckinney

The stock of CBAK Energy Technology, Inc. (NASDAQ:CBAK) hit a new 52-week low and has $1.25 target or 4.00 % below today’s $1.30 share price. The 9 months bearish chart indicates high risk for the $34.10M company. The 1-year low was reported on May, 30 by Barchart.com. If the $1.25 price target is reached, the company will be worth $1.36M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock increased 4.00% or $0.05 during the last trading session, reaching $1.3. About 20,659 shares traded or 6.65% up from the average. CBAK Energy Technology, Inc. (NASDAQ:CBAK) has risen 1.92% since May 30, 2017 and is uptrending. It has underperformed by 10.65% the S&P500.

More news for CBAK Energy Technology, Inc. (NASDAQ:CBAK) were recently published by: Seekingalpha.com, which released: “CBAK Energy Technology: Excessive Debt, Low Cash Position May Cause Bankruptcy And Equity Dilution” on May 02, 2018. Investingnews.com‘s article titled: “Village Capital Plugs Electric Vehicles in New Report” and published on May 10, 2018 is yet another important article.

CBAK Energy Technology, Inc., through its subsidiaries, develops, makes, and sells energy high power lithium batteries in the People's Republic of China, Europe, South Korea, and Israel. The company has market cap of $34.10 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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