7 Penny Stocks with Low PE Ratios

5. CBAK Energy Technology, Inc. (NASDAQ:CBAK)

Share Price: $1.22

Forward P/E: 3.7

EPS Growth This Year: 1,450.00%

Number of Hedge Fund Holders: 3

CBAK Energy (NASDAQ:CBAK) is an investment holding company based in China that operates in two primary segments: the CBAK segment and the Hitrans segment. The CBAK segment covers the commercialization, manufacture, and distribution of a wide array of standard and customized lithium-ion rechargeable batteries for several applications. The Hitrans segment covers the development and manufacturing of NCM precursor and cathode materials. Its products have multi-industry applications.

CBAK Energy (NASDAQ:CBAK) achieved a 55% increase in its net revenues from its battery business in Q2, touching $80.4 million for the first half of 2024. Net revenues for the company also grew 13% to $47.8 million from $42.4 million in the same period in 2023, primarily due to an increase in revenue from the company’s battery business. One of the primary drivers of growth for the company is its strategic shift towards residential energy solutions and diverse energy storage applications. The company also boasts strong brand loyalty, which gives it a considerable market advantage when coupled with its solid sales momentum.

The company is undertaking efforts to continue the positive trajectory of its battery business. It rolled out plans in June to advance its fast-charging technology with the improved model 32140 battery. This version achieves a full charge in under 35 minutes, substantially expediting the process. The upgrade enables the 32140 large cylindrical battery to shift its original 0.8C fast charging rate to 1.8C fast charging rate, accelerating charging speed by 1.25 times. Its plans included improving the battery’s cycle life under high-current charge and discharge, doubling it to improve its overall durability and efficiency.