Why China Bak Battery (CBAK) Hit A One-Year High Today

NEW YORK (TheStreet) -- China Bak Battery  (CBAK) surged to a one-year high of $4.78 as of 1:15 p.m. on Tuesday as the company, which manufactures lithium-based battery cells, soared in sympathy with its peer companies.

Companies such as Plug Power  (PLUG), FuelCell Energy  (FCEL) and Ballard Power Systems  (BLDP) have repeatedly soared to one-year highs since last week in the wake of Plug Power's deal with Wal-Mart  (WMT) to provide more than 1,700 hydrogen fuel cell solutions to power electric lift truck fleets at six of Wal-Mart's North American distribution centers.

As the demand for clean energy has increased, battery-related stocks have improved. China Bak Battery has participated in this surge, as the stock has soared more than 80% in 2014.

CBAK Chart

CBAK data by YCharts

CBAK Chart

CBAK data by YCharts

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

If you liked this article you might like

Insider Trading Alert - CBAK, LE And MBI Traded By Insiders

Insider Trading Alert - CBAK, LE And MBI Traded By Insiders

Insider Trading Alert - CBAK, QCOM And SCOR Traded By Insiders

Insider Trading Alert - CBAK, QCOM And SCOR Traded By Insiders

Insider Trading Alert - HTLD, CBAK And OXM Traded By Insiders

Insider Trading Alert - HTLD, CBAK And OXM Traded By Insiders

3 Stocks Pushing The Industrial Industry Lower

3 Stocks Pushing The Industrial Industry Lower

China Bak Battery Inc (CBAK) Upgraded From Sell to Hold

China Bak Battery Inc (CBAK) Upgraded From Sell to Hold