Insider Buying: CBAK Energy Technology Inc (NASDAQ:CBAT) Major Shareholder Acquires 1,384,717 Shares of Stock
CBAK Energy Technology Inc (NASDAQ:CBAT) major shareholder Dawei Li acquired 1,384,717 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were acquired at an average price of $1.05 per share, with a total value of $1,453,952.85. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
CBAT opened at $0.93 on Thursday. The company has a current ratio of 0.53, a quick ratio of 0.43 and a debt-to-equity ratio of 1.58. CBAK Energy Technology Inc has a 52-week low of $0.23 and a 52-week high of $1.23. The company has a 50 day moving average of $0.84 and a two-hundred day moving average of $0.94.
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) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 530,872 shares of the company’s stock, valued at approximately $496,000. Citadel Advisors LLC owned 1.67% of CBAK Energy Technology at the end of the most recent quarter. 1.91% of the stock is owned by institutional investors and hedge funds.
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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