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

China Automotive Systems, Inc. (NASDAQ:CAAS) was the target of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 30,774 shares, a drop of 38.6% from the April 30th total of 50,123 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average daily volume of 44,519 shares, the short-interest ratio is presently 0.7 days.

Institutional Trading of China Automotive Systems

A number of large investors have recently bought and sold shares of the business. Citadel Advisors LLC bought a new position in shares of China Automotive Systems in the 3rd quarter worth about $213,000. Virtu Financial LLC bought a new stake in shares of China Automotive Systems during the 3rd quarter valued at about $86,000. Empowered Funds LLC grew its stake in China Automotive Systems by 8.6% during the first quarter. Empowered Funds LLC now owns 156,258 shares of the auto parts company’s stock worth $691,000 after purchasing an additional 12,402 shares during the period. XTX Topco Ltd acquired a new stake in China Automotive Systems during the fourth quarter worth approximately $47,000. Finally, Bridgeway Capital Management LLC increased its holdings in China Automotive Systems by 2.9% in the second quarter. Bridgeway Capital Management LLC now owns 301,155 shares of the auto parts company’s stock worth $1,229,000 after purchasing an additional 8,547 shares in the last quarter. 5.17% of the stock is currently owned by institutional investors and hedge funds.

China Automotive Systems Stock Down 1.1%

China Automotive Systems stock traded down $0.05 during mid-day trading on Wednesday, hitting $4.49. 194 shares of the stock were exchanged, compared to its average volume of 29,257. The stock has a market capitalization of $135.43 million, a price-to-earnings ratio of 3.16 and a beta of 1.03. China Automotive Systems has a 12 month low of $3.86 and a 12 month high of $5.15. The firm’s fifty day simple moving average is $4.43 and its two-hundred day simple moving average is $4.38.

China Automotive Systems (NASDAQ:CAAS) last posted its quarterly earnings data on Wednesday, April 22nd. The auto parts company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.54. China Automotive Systems had a net margin of 5.59% and a return on equity of 10.58%. The company had revenue of $229.19 million during the quarter, compared to analysts’ expectations of $118.18 million.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded China Automotive Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, China Automotive Systems currently has an average rating of “Hold”.

About China Automotive Systems

China Automotive Systems, Inc (NASDAQ: CAAS) is a leading designer, manufacturer and marketer of power steering systems and related components primarily for the automotive industry in China. The company’s core business centers on hydraulic and electric power steering products, steering columns, steering gearboxes and electronic control units. By integrating research and development, manufacturing and sales, China Automotive Systems aims to deliver high-quality steering solutions that meet the performance and safety requirements of global automakers.

The company’s product portfolio includes traditional hydraulic power steering systems, which have long been favored for their reliability, as well as advanced electric power steering units that offer improved fuel efficiency and enhanced vehicle control.