China Automotive Systems, Inc. (NASDAQ:CAAS) Short Interest Down 44.5% in April

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Bridgeway Capital Management LLC grew its stake in shares of China Automotive Systems by 2.6% in the 4th 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 period. Two Sigma Securities LLC acquired a new stake in shares of China Automotive Systems in the 4th quarter valued at approximately $86,000. Renaissance Technologies LLC increased its holdings in shares of China Automotive Systems by 4.8% in the fourth 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. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of China Automotive Systems by 22.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,586 shares of the auto parts company's stock worth $437,000 after acquiring an additional 19,484 shares during the period. Finally, Empowered Funds LLC lifted its stake in China Automotive Systems by 5.2% in the 4th quarter. Empowered Funds LLC now owns 143,856 shares of the auto parts company's stock valued at $590,000 after acquiring an additional 7,119 shares in the last quarter. Institutional investors and hedge funds own 5.17% of the company's stock.

China Automotive Systems Stock Performance

Shares of CAAS stock traded up $0.03 on Tuesday, hitting $3.90. The stock had a trading volume of 11,091 shares, compared to its average volume of 56,184. China Automotive Systems has a 52-week low of $3.34 and a 52-week high of $5.37. The stock's 50 day moving average is $4.21 and its 200-day moving average is $4.23. The firm has a market capitalization of $117.67 million, a price-to-earnings ratio of 3.71 and a beta of 2.33.

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

Wall Street Analysts Forecast Growth

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

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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