Cbak Energy Technology Inc Down 8.55% To $1.07 After Earnings

CBAK Energy Technology Inc (CBAT) missed earnings projections on 3/15/2024 for Q4 2023.



Revenues were downbeat at $0.00. Keep in mind that the revenues reported were on an adjusted basis, so they may not be directly comparable to estimates and prior periods.

The stock is down 8.55% to $1.07 after the report.

Cbak Energy Technology Inc's profit margins maintained as both earnings and revenue declined at the same pace.

Trading in the five days leading up to the report earned Cbak Energy Technology Inc a Bullish Sentiment Rank from InvestorsObserver.

Cbak Energy Technology Inc has performed a little above average during the past few months. Before the report, Cbak Energy Technology Inc received a Long-Term Technical Rank by InvestorsObserver of 71, putting it in the top half of stocks. The firm was recently trading at a 52-week high of $1.45 on January 10, 2024 and set a 52-week low on May 3, 2023 at $0.74.

CBAK Energy Technology Inc is engaged in the manufacture, commercialization, and distribution of a variety of standard and customized lithium-ion high power rechargeable batteries which are mainly used in electric vehicles, light electric vehicles, electric tools, energy storage, uninterruptible power supply, and other high power applications. The company manufactures five types of Li-ion rechargeable batteries namely aluminum-case cell, battery pack, cylindrical cell, lithium polymer cell, and high-power lithium battery cell. Geographically, it generates a majority of its revenue from Mainland China and also has an operation in Europe, the United States, Korea, and Other Countries.