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

China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 22,200 shares, a drop of 44.5% from the March 31st total of 40,000 shares. Based on an average daily trading volume, of 49,700 shares, the short-interest ratio is currently 0.4 days. Currently, 0.2% of the company's shares are short sold.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of China Automotive Systems in a report on Friday, April 11th. They issued a "hold" rating for the company.

Institutional Investors Weigh In On China Automotive Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC raised its stake in shares of China Automotive Systems by 5.2% during the fourth quarter. Empowered Funds LLC now owns 143,856 shares of the auto parts company's stock worth $590,000 after purchasing an additional 7,119 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of China Automotive Systems by 22.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,586 shares of the auto parts company's stock valued at $437,000 after purchasing an additional 19,484 shares during the period. Renaissance Technologies LLC boosted its stake in shares of China Automotive Systems by 4.8% during the 4th quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company's stock worth $1,726,000 after acquiring an additional 19,100 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in China Automotive Systems during the fourth quarter worth $86,000. Finally, Bridgeway Capital Management LLC grew its holdings in China Automotive Systems by 2.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 280,206 shares of the auto parts company's stock valued at $1,149,000 after purchasing an additional 7,119 shares during the last quarter. 5.17% of the stock is owned by hedge funds and other institutional investors.

China Automotive Systems Stock Performance

CAAS stock traded up $0.13 during mid-day trading on Friday, reaching $3.93. The company had a trading volume of 19,995 shares, compared to its average volume of 56,230. China Automotive Systems has a fifty-two week low of $3.34 and a fifty-two week high of $5.37. The company has a market capitalization of $118.57 million, a price-to-earnings ratio of 3.74 and a beta of 2.33. The firm has a fifty day simple moving average of $4.16 and a 200 day simple moving average of $4.22.

China Automotive Systems (NASDAQ:CAAS - Get Free Report) last posted its earnings results on Friday, March 28th. The auto parts company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.16 by $0.14. The firm had revenue of $188.70 million for the quarter, compared to analyst estimates of $147.52 million. China Automotive Systems had a return on equity of 8.22% and a net margin of 5.12%.

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.