China Automotive Systems, Inc. (NASDAQ:CAAS – Get Free Report) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totalling 24,000 shares, a growth of 336.4% from the March 31st total of 5,500 shares. Based on an average daily volume of 39,200 shares, the short-interest ratio is currently 0.6 days. Approximately 0.1% of the shares of the stock are short sold.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded China Automotive Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 29th.
Get Our Latest Stock Analysis on China Automotive Systems
China Automotive Systems Stock Performance
China Automotive Systems (NASDAQ:CAAS – Get Free Report) last announced its quarterly earnings data on Thursday, March 28th. The auto parts company reported $0.36 EPS for the quarter. China Automotive Systems had a return on equity of 10.84% and a net margin of 6.53%. The firm had revenue of $159.16 million for the quarter.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in China Automotive Systems stock. WINTON GROUP Ltd lifted its stake in China Automotive Systems, Inc. (NASDAQ:CAAS – Free Report) by 78.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,600 shares of the auto parts company’s stock after purchasing an additional 19,231 shares during the period. WINTON GROUP Ltd owned 0.14% of China Automotive Systems worth $170,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 5.17% of the company’s stock.
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.
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