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

China Automotive Systems, Inc. (NASDAQ:CAASGet 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:CAASGet 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

Institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new position in China Automotive Systems in the 4th quarter worth about $47,000. Virtu Financial LLC acquired a new position in shares of China Automotive Systems during the third quarter worth approximately $86,000. Citadel Advisors LLC bought a new position in China Automotive Systems in the 3rd quarter worth approximately $213,000. Empowered Funds LLC increased its position in China Automotive Systems by 8.6% in the 1st quarter. Empowered Funds LLC now owns 156,258 shares of the auto parts company’s stock valued at $691,000 after acquiring an additional 12,402 shares during the period. Finally, Bridgeway Capital Management LLC increased its position in China Automotive Systems by 2.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 301,155 shares of the auto parts company’s stock valued at $1,229,000 after acquiring an additional 8,547 shares during the period. 5.17% of the stock is owned by institutional investors.

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

(Get Free Report)

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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