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

China Automotive Systems, Inc. (NASDAQ:CAAS) saw a large decline in short interest in June. As of June 15th, there was short interest totalling 17,900 shares, a decline of 13.1% from the May 31st total of 20,600 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 40,300 shares, the short-interest ratio is presently 0.4 days.

China Automotive Systems Trading Down 0.6 %

CAAS stock traded down $0.02 on Monday, hitting $3.53. 37,641 shares of the company’s stock traded hands, compared to its average volume of 41,152. The stock has a market cap of $106.57 million, a price-to-earnings ratio of 2.74 and a beta of 2.47. China Automotive Systems has a 1-year low of $3.04 and a 1-year high of $5.73. The stock has a fifty day moving average of $3.69 and a 200-day moving average of $3.49.

China Automotive Systems (NASDAQ:CAAS) last announced its quarterly earnings data on Tuesday, May 14th. The auto parts company reported $0.27 EPS for the quarter. The company had revenue of $139.39 million during the quarter. China Automotive Systems had a return on equity of 10.84% and a net margin of 6.82%.

Institutional Trading of China Automotive Systems

An institutional investor recently raised its position in China Automotive Systems stock. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of China Automotive Systems, Inc. (NASDAQ:CAAS) by 32.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,261 shares of the auto parts company’s stock after acquiring an additional 11,655 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.16% of China Automotive Systems worth $184,000 as of its most recent SEC filing. Institutional investors and hedge funds own 5.17% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised China Automotive Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 25th.

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.