Why These 2 Energy Stocks Are Moving Today

CBAK Energy Technology CBAT shares are trading lower after the company filed for a mixed shelf offering of up to $200 million.

CBAK Energy Technology 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.

CBAK Energy Technology shares were trading down 9.62% to $7.14 on Tuesday at the time of publication. The stock has a 52-week high of $11.40 and a 52-week low of 36 cents.

Duke Energy DUK shares are trading higher on Tuesday after BMO Capital initiated coverage on the stock with an Outperform rating and a price target of $99 per share.

Duke Energy is one of the largest U.S. utilities, with regulated utilities in the Carolinas, Indiana, Florida, Ohio, and Kentucky that deliver electricity and gas to more than 7 million customers. Duke operates in three major segments: electric utilities and infrastructure; gas utilities and infrastructure; and commercial renewables.

Duke Energy shares were trading up 2.87% to $96.08. The stock has a 52-week high of $103.79 and a 52-week low of $62.13.