China Automotive Systems, Inc. (NASDAQ:CAAS) Short Interest Update

China Automotive Systems, Inc. (NASDAQ:CAAS) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 22,200 shares, a decline of 44.5% from the March 31st total of 40,000 shares. Based on an average daily trading volume, of 49,700 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.2% of the company’s shares are short sold.

China Automotive Systems Stock Up 2.8 %

Shares of CAAS stock opened at $3.98 on Wednesday. The firm has a market capitalization of $120.08 million, a price-to-earnings ratio of 3.79 and a beta of 2.33. China Automotive Systems has a 12-month low of $3.34 and a 12-month high of $5.37. The firm has a fifty day moving average of $4.20 and a 200-day moving average of $4.23.

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

Institutional Trading of China Automotive Systems

Hedge funds have recently bought and sold shares of the stock. Two Sigma Securities LLC acquired a new position in shares of China Automotive Systems in the fourth quarter valued at approximately $86,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in China Automotive Systems by 22.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,586 shares of the auto parts company’s stock worth $437,000 after purchasing an additional 19,484 shares during the period. Empowered Funds LLC increased its holdings in China Automotive Systems by 5.2% during the 4th 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. Bridgeway Capital Management LLC increased 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 purchasing an additional 7,119 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of China Automotive Systems by 4.8% in the fourth quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company’s stock valued at $1,726,000 after purchasing an additional 19,100 shares in the last quarter. 5.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of China Automotive Systems in a research report on Friday, April 11th. They issued a “hold” rating on the 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.