China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 11,100 shares, a growth of 192.1% from the May 15th total of 3,800 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 40,600 shares, the days-to-cover ratio is presently 0.3 days.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen upgraded shares of China Automotive Systems from a "hold" rating to a "buy" rating in a research report on Monday, May 19th.
Check Out Our Latest Analysis on CAAS
Hedge Funds Weigh In On China Automotive Systems
Large investors have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in China Automotive Systems during the first quarter valued at approximately $57,000. Two Sigma Securities LLC bought a new stake in China Automotive Systems during the fourth quarter valued at approximately $86,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in 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 valued at $437,000 after purchasing an additional 19,484 shares during the last quarter. Empowered Funds LLC lifted its position in 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 valued at $590,000 after purchasing an additional 7,119 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in China Automotive Systems by 2.6% during 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 currently owned by institutional investors.
China Automotive Systems Trading Down 1.4%
Shares of CAAS stock traded down $0.06 during trading hours on Monday, reaching $4.26. The stock had a trading volume of 20,301 shares, compared to its average volume of 53,782. The stock's fifty day simple moving average is $4.00 and its 200 day simple moving average is $4.16. China Automotive Systems has a 12 month low of $3.34 and a 12 month high of $5.37. The firm has a market capitalization of $128.53 million, a PE ratio of 4.06 and a beta of 2.57.
China Automotive Systems (NASDAQ:CAAS - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The auto parts company reported $0.24 EPS for the quarter. China Automotive Systems had a net margin of 5.12% and a return on equity of 8.22%.
About China Automotive Systems
(
Get Free Report)
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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