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

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

China Automotive Systems Stock Down 5.7 %

NASDAQ:CAAS opened at $4.17 on Wednesday. China Automotive Systems has a 12-month low of $3.34 and a 12-month high of $5.37. The stock’s 50 day moving average price is $4.39 and its two-hundred day moving average price is $4.28. The firm has a market capitalization of $125.88 million, a price-to-earnings ratio of 3.97 and a beta of 2.27.

China Automotive Systems (NASDAQ:CAAS) last announced its quarterly earnings results on Friday, March 28th. The auto parts company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.14. China Automotive Systems had a return on equity of 8.22% and a net margin of 5.12%. The business 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 shares of China Automotive Systems in a research report on Wednesday, March 26th. They issued a “buy” rating for the company.

Institutional Investors Weigh In On China Automotive Systems

Large investors have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC acquired a new position in China Automotive Systems in the 4th quarter valued at $86,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of China Automotive Systems by 22.4% in the fourth 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. Empowered Funds LLC raised its holdings in China Automotive Systems by 5.2% in the 4th quarter. Empowered Funds LLC now owns 143,856 shares of the auto parts company’s stock valued at $590,000 after buying an additional 7,119 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in 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 worth $1,149,000 after acquiring an additional 7,119 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position 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 valued at $1,726,000 after acquiring an additional 19,100 shares during the period. Institutional investors and hedge funds own 5.17% of the company’s stock.

China Automotive Systems Company Profile

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.