Highpower International Inc (HPJ) Shares Soar on $101.7 Million Investment Proposal


Shares of Highpower International Inc (NASDAQ:HPJ) are up big today as the company announced this morning that they have received a non-binding investment proposal from Anshan Co-Operation (Group) Co., Ltd for $101.7 million.

The investment offer would be in exchange for a controlling interest in three of the company’s subsidiaries. Considering that Highpower International Inc’s market cap is hovering around $45 million, such an investment could have major implications for shareholders. The company’s Board of Directors are said to be reviewing and considering the offer. The stock is up 29.74% or $0.69 after the positive news, hitting $3.01 per share. About 509,216 shares traded hands or 824.32% up from the average. HPJ has declined 45.96% since April 24, 2015 and is downtrending. It has underperformed by 44.60% the S&P500.

The institutional sentiment decreased to 0.45 in Q2 2015. Its down 0.44, from 0.89 in 2015Q1. The ratio dived, as 5 funds sold all Highpower International Inc shares owned while 6 reduced positions. 2 funds bought stakes while 3 increased positions. They now own 1.33 million shares or 1.59% more from 1.31 million shares in 2015Q1.

Friedberg Investment Management holds 0.15% of its portfolio in Highpower International Inc for 9,860 shares. Rotella Capital Management Inc. owns 36,211 shares or 0.11% of their US portfolio. Moreover, Granite Investment Partners Llc has 0.08% invested in the company for 223,916 shares. The New York-based Spark Investment Management Llc has invested 0.05% in the stock. Bridgeway Capital Management Inc, a Texas-based fund reported 285,045 shares.

Since June 15, 2015, the stock had 0 buys, and 1 insider sale for $106,464 net activity. Ma Wen Wei sold 24,000 shares worth $106,464.

Highpower International, Inc. is a company, through its subsidiaries, engaged in the manufacturing and trading of nickel metal hydride rechargeable batteries. The company has a market cap of $45.85 million. The Firm makes Nickel Metal Hydride batteries for both consumer and industrial applications. It has 8.14 P/E ratio. It is engaged in research and manufacturing of batteries; processing, marketing and research of battery materials, and research and production of advanced battery packs and systems.