CBAT: Weathering the challenges in the battery cell market. Maintaining a $2.50/share target. [Yahoo! Finance]
CBAK Energy Technology, Inc. (CBAT)
Company Research
Source: Yahoo! Finance
On Friday, August 9th, CBAK Energy Technology (NASDAQ:CBAT) released its second quarter results which were mixed relative to our expectations. • Battery revenues of $35.6 million were sharply below our estimate of $45.8 million but still up 60% versus the second quarter of 2023. We believe that there is still some lumpiness to the battery cell business given the large orders from a handful of the company's key customers. We continue to believe that the company's focus on energy storage is helping it avoid the margin compression that is plaguing the much larger EV battery space. • We are adjusting our forecasts slightly to account for a potential transition as the company introduces a new battery size and our full-year EPS forecasts are now $0.31/share in 2024 and $0.33/share in 2025 but we think the company could significantly outperform these estimates. Trading at just 3 times 2024 eps estimates, CBAK represents a good value for energy storage sector investors with longer time h
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CBAT
News
- Should You Investigate CBAK Energy Technology, Inc. (NASDAQ:CBAT) At US$1.01? [Yahoo! Finance]Yahoo! Finance
- CBAK Energy Technology, Inc. (CBAT) Q2 2024 Earnings Call Transcript [Seeking Alpha]Seeking Alpha
- CBAK Energy Reports Second Quarter and First Half 2024 Unaudited Financial ResultsPR Newswire
- CBAK Energy to Report Second Quarter & First Half 2024 Unaudited Financial Results on Friday, August 9, 2024PR Newswire
CBAT
Earnings
- 8/9/24 - In-Line
CBAT
Sec Filings
- 8/12/24 - Form 10-Q
- 8/12/24 - Form NT
- 8/9/24 - Form 8-K
- CBAT's page on the SEC website