China Automotive Systems, Inc. (NASDAQ:CAAS – Get Free Report) was the target of a large decline in short interest in May. As of May 15th, there was short interest totaling 30,774 shares, a decline of 38.6% from the April 30th total of 50,123 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average daily volume of 44,519 shares, the short-interest ratio is presently 0.7 days.
China Automotive Systems Stock Performance
Shares of NASDAQ CAAS traded up $0.07 during midday trading on Thursday, reaching $4.50. 2,714 shares of the company’s stock were exchanged, compared to its average volume of 28,882. China Automotive Systems has a 52-week low of $3.86 and a 52-week high of $5.15. The business’s fifty day moving average price is $4.44 and its two-hundred day moving average price is $4.38. The stock has a market capitalization of $135.61 million, a PE ratio of 3.17 and a beta of 1.03.
China Automotive Systems (NASDAQ:CAAS – Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The auto parts company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.07 by $0.54. China Automotive Systems had a net margin of 5.59% and a return on equity of 10.58%. The business had revenue of $229.19 million for the quarter, compared to analysts’ expectations of $118.18 million.
Hedge Funds Weigh In On China Automotive Systems
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised shares of China Automotive Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 20th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, China Automotive Systems currently has a consensus rating of “Hold”.
Read Our Latest Research Report on CAAS
About China Automotive Systems
China Automotive Systems, Inc (NASDAQ: CAAS) is a leading designer, manufacturer and marketer of power steering systems and related components primarily for the automotive industry in China. The company’s core business centers on hydraulic and electric power steering products, steering columns, steering gearboxes and electronic control units. By integrating research and development, manufacturing and sales, China Automotive Systems aims to deliver high-quality steering solutions that meet the performance and safety requirements of global automakers.
The company’s product portfolio includes traditional hydraulic power steering systems, which have long been favored for their reliability, as well as advanced electric power steering units that offer improved fuel efficiency and enhanced vehicle control.
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