What Next for CBAK Energy Technology, Inc. (CBAK) Stock After Achieving 1 Year Low?

May 16, 2018 - By reb123z

The stock of CBAK Energy Technology, Inc. (NASDAQ:CBAK) hit a new 52-week low and has $1.16 target or 7.00 % below today’s $1.25 share price. The 8 months bearish chart indicates high risk for the $32.79 million company. The 1-year low was reported on May, 16 by Barchart.com. If the $1.16 price target is reached, the company will be worth $2.30 million 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 4.17% or $0.05 during the last trading session, reaching $1.25. About 3,293 shares traded. CBAK Energy Technology, Inc. (NASDAQ:CBAK) has risen 12.00% since May 16, 2017 and is uptrending. It has outperformed by 0.45% the S&P500.

More news for CBAK Energy Technology, Inc. (NASDAQ:CBAK) were recently published by: Investingnews.com, which released: “Village Capital Plugs Electric Vehicles in New Report” on May 10, 2018. Seekingalpha.com‘s article titled: “CBAK Energy Technology: Excessive Debt, Low Cash Position May Cause Bankruptcy And Equity Dilution” and published on May 02, 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 $32.79 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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