Shares of Highpower International Inc (HPJ) Up Big After Investment Proposal


Highpower International Inc (NASDAQ:HPJ) shares are moving up considerably in early morning trading as the company announced an investment proposal valued at over $101 million.

Anshan Co-Operation submitted a non-binding proposal to invet $101.7 million in exchange for a controlling interest in three of Highpower’s subsidiaries. Considering the market cap of HPJ is currently under $50 million, such an investment could have major implications for shareholders.

The company’s Board of Directors are said to be considering the proposal.

The stock is up 42.11% or $0.98 after the positive news, hitting $3.3 per share. About 17,255 shares traded hands. HPJ has risen 6.00% since October 28, 2015 and is uptrending. It has outperformed by 7.13% the S&P500.

The institutional sentiment decreased to 0.45 in Q2 2015. Its down 0.44, from 0.89 in 2015Q1. The ratio dropped, 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 insider purchases, 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 $50.22 million. The Firm makes Nickel Metal Hydride batteries for both consumer and industrial applications. It has 8.92 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.