Short Interest in China Automotive Systems, Inc. (NASDAQ:CAAS) Decreases By 14.5%

China Automotive Systems, Inc. (NASDAQ:CAAS) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 23,000 shares, a decline of 14.5% from the February 28th total of 26,900 shares. Based on an average daily trading volume, of 37,000 shares, the short-interest ratio is presently 0.6 days. Approximately 0.2% of the company’s shares are short sold.

China Automotive Systems Price Performance

NASDAQ CAAS opened at $4.19 on Thursday. China Automotive Systems has a 1-year low of $3.34 and a 1-year high of $5.37. The firm has a market capitalization of $126.48 million, a P/E ratio of 3.99 and a beta of 2.27. The business’s 50-day simple moving average is $4.39 and its 200-day simple moving average is $4.28.

China Automotive Systems (NASDAQ:CAAS) last released its quarterly earnings data on Friday, March 28th. The auto parts company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.14. China Automotive Systems had a net margin of 5.12% and a return on equity of 8.22%. The company had revenue of $188.70 million during the quarter, compared to the consensus estimate of $147.52 million.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on China Automotive Systems in a research report on Thursday. They issued a “buy” rating on the stock.

Institutional Trading of China Automotive Systems

Several large investors have recently added to or reduced their stakes in CAAS. Empowered Funds LLC lifted its stake in shares of China Automotive Systems by 5.2% during the fourth quarter. Empowered Funds LLC now owns 143,856 shares of the auto parts company’s stock worth $590,000 after purchasing an additional 7,119 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of China Automotive Systems by 22.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,586 shares of the auto parts company’s stock valued at $437,000 after buying an additional 19,484 shares during the period. Bridgeway Capital Management LLC raised its holdings in shares of China Automotive Systems by 2.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 280,206 shares of the auto parts company’s stock valued at $1,149,000 after buying an additional 7,119 shares during the period. Two Sigma Securities LLC acquired a new position in China Automotive Systems during the 4th quarter worth approximately $86,000. Finally, Renaissance Technologies LLC boosted its holdings in China Automotive Systems by 4.8% in the 4th quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company’s stock worth $1,726,000 after acquiring an additional 19,100 shares during the period. 5.17% of the stock is currently owned by institutional investors and hedge funds.

About China Automotive Systems

China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China, the United States, and internationally. It produces rack and pinion power steering gears for cars and light-duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronics and systems and parts.