Why CBAK Energy Shares Are Trading Higher Today
- CBAK Energy Technology, Inc. (NASDAQ:CBAT) received an order from a European provider of heating, cooling, and renewable energy systems for a supply of lithium-ion batteries worth EUR 28.2 million ($29.3 million).
- CBAK Energy is expected to ship ~13.9 million units of batteries to the customer. The new order brings the total order value for the same customer in 2022 to ~EUR 31.2 million.
- In 2022, CBAK Energy is expected to deliver 9.9 million units of batteries to the customer for an estimated EUR 17.1 million.
- Price Action: CBAT shares are trading higher by 17.7% at $1.13 on the last check Friday.