China Automotive Systems, Inc. (NASDAQ:CAAS) Sees Significant Increase in Short Interest

China Automotive Systems, Inc. (NASDAQ:CAAS) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 40,000 shares, an increase of 73.9% from the March 15th total of 23,000 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average daily volume of 48,500 shares, the days-to-cover ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on China Automotive Systems in a research note on Friday, April 11th. They set a “hold” rating on the stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bridgeway Capital Management LLC lifted 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 valued at $1,149,000 after purchasing an additional 7,119 shares during the last quarter. Two Sigma Securities LLC bought a new position in shares of China Automotive Systems in the fourth quarter valued at about $86,000. Renaissance Technologies LLC lifted its stake in shares of China Automotive Systems by 4.8% during the 4th quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company’s stock worth $1,726,000 after buying an additional 19,100 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted 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 worth $437,000 after buying an additional 19,484 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of 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 buying an additional 7,119 shares during the period. 5.17% of the stock is currently owned by institutional investors.

China Automotive Systems Trading Up 2.5 %

NASDAQ CAAS opened at $3.69 on Friday. The firm’s fifty day moving average price is $4.28 and its two-hundred day moving average price is $4.27. 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 $111.33 million, a P/E ratio of 3.51 and a beta of 2.33.

China Automotive Systems (NASDAQ:CAAS) last issued its 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. The business had revenue of $188.70 million during the quarter, compared to the consensus estimate of $147.52 million. China Automotive Systems had a net margin of 5.12% and a return on equity of 8.22%.

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.