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

China Automotive Systems, Inc. (NASDAQ:CAAS) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 10,600 shares, a growth of 45.2% from the October 15th total of 7,300 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 66,100 shares, the short-interest ratio is currently 0.2 days.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered China Automotive Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 14th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CAAS. Renaissance Technologies LLC grew its stake in shares of China Automotive Systems by 1.7% in the 2nd quarter. Renaissance Technologies LLC now owns 419,994 shares of the auto parts company’s stock valued at $1,491,000 after buying an additional 6,900 shares in the last quarter. Empowered Funds LLC raised its position in China Automotive Systems by 5.4% during the third quarter. Empowered Funds LLC now owns 136,737 shares of the auto parts company’s stock valued at $629,000 after acquiring an additional 6,968 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in China Automotive Systems by 14.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,102 shares of the auto parts company’s stock valued at $401,000 after acquiring an additional 11,197 shares during the last quarter. Finally, American Century Companies Inc. bought a new stake in China Automotive Systems in the second quarter worth approximately $36,000. 5.17% of the stock is owned by institutional investors and hedge funds.

China Automotive Systems Price Performance

CAAS traded up $0.08 on Friday, reaching $4.33. 25,843 shares of the company traded hands, compared to its average volume of 57,514. The company has a market cap of $130.71 million, a price-to-earnings ratio of 4.12 and a beta of 2.45. The stock’s 50 day moving average price is $4.20 and its 200-day moving average price is $3.89. China Automotive Systems has a 52-week low of $3.04 and a 52-week high of $4.97.

China Automotive Systems (NASDAQ:CAAS) last posted its quarterly earnings results on Tuesday, August 13th. The auto parts company reported $0.24 earnings per share for the quarter. The business had revenue of $158.61 million for the quarter. China Automotive Systems had a net margin of 5.12% and a return on equity of 8.24%.

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.