China Automotive Systems, Inc. (NASDAQ:CAAS – Get Free Report) was the recipient of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 20,600 shares, an increase of 9.6% from the May 15th total of 18,800 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 41,100 shares, the days-to-cover ratio is presently 0.5 days.
Analyst Ratings Changes
Separately, StockNews.com raised China Automotive Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 25th.
Read Our Latest Research Report on CAAS
Hedge Funds Weigh In On China Automotive Systems
China Automotive Systems Stock Up 1.3 %
Shares of China Automotive Systems stock traded up $0.05 during midday trading on Monday, hitting $3.87. The company’s stock had a trading volume of 36,797 shares, compared to its average volume of 42,370. The firm has a market capitalization of $116.84 million, a P/E ratio of 3.05 and a beta of 2.44. The stock has a 50-day simple moving average of $3.67 and a 200-day simple moving average of $3.48. China Automotive Systems has a 1-year low of $3.04 and a 1-year high of $5.73.
China Automotive Systems (NASDAQ:CAAS – Get Free Report) last announced its quarterly earnings data on Tuesday, May 14th. The auto parts company reported $0.27 earnings per share (EPS) for the quarter. China Automotive Systems had a return on equity of 10.84% and a net margin of 6.82%. The business had revenue of $139.39 million during the quarter.
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.
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