DALLAS, July 2, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Advanced Battery Technologies Inc. (Nasdaq:ABAT). The report includes financial, comparative and investment analyses, and recent company news that you need to know to make an educated investment decision.
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The full report is available at: http://www.microstockprofit.com/lp/AABAT
The MACD for ABAT currently indicates a strong bearish signal for two reasons. First, the MACD is below the signal line, a 9-day moving average. Second, the MACD is below the critical level of zero, which implies that the underlying moving averages are trending lower.
Advanced Battery Technologies Inc. (ABAT) is a holding company with one subsidiary, Cashtech Investment Ltd. (Cashtech). Cashtech Investment Ltd. is also a holding company with only one subsidiary, Heilongjiang ZhongQiang Power-Tech Co. Ltd. (ZQ Power-Tech). ABAT also owns a 49% interest in Beyond E-Tech Inc., a company that distributes cellular telephones in the United States. In April 2009, Advanced Battery Technologies Inc. completed the acquisition of Wuxi Angell Autocycle Co. Ltd.
Message Board Search for ABAT: http://www.boardcentral.com/boards/ABAT
In the report, the analyst notes:
"The Company had total revenues of $19.5 million for the three months ended March 31, 2010, an increase of $8.9 million or 82.9%, compared to $10.7 million for the three months ended March 31, 2009. The increase in revenues was primarily due to the contribution of sales from the electric vehicle business, which the Company acquired on May 4, 2009.
"ABAT, a leading developer, manufacturer and distributor of rechargeable Polymer Lithium-Ion (PLI) batteries as well as a manufacturer of electric vehicles, recently announced that it received an order to sell electric vehicles valued at approximately $1.1 million to U.S.-based All-Power America. The first batch of electric motorcycles was shipped to All-Power America on June 6, 2010."
To read the entire report visit: http://www.microstockprofit.com/lp/ABAT
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