Does Cbak Energy Technology Inc (NASDAQ:CBAK) Have Gas After Even Less Sellers Involved?

The stock of Cbak Energy Technology Inc (NASDAQ:CBAK) registered a decrease of 13.64% in short interest. CBAK’s total short interest was 155,700 shares in November as published by FINRA. Its down 13.64% from 180,300 shares, reported previously. With 23,800 shares average volume, it will take short sellers 7 days to cover their CBAK’s short positions. The short interest to Cbak Energy Technology Inc’s float is 0.7%.

The stock increased 3.66% or $0.0215 during the last trading session, reaching $0.6095. About 51,250 shares traded or 11.93% up from the average. CBAK Energy Technology, Inc. (NASDAQ:CBAK) has declined 58.00% since November 14, 2017 and is downtrending. It has underperformed by 73.62% 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 $16.24 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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