China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report) saw a large 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 short sold. Based on an average daily volume of 40,600 shares, the days-to-cover ratio is currently 0.3 days.
China Automotive Systems Trading Down 1.8%
Shares of NASDAQ:CAAS traded down $0.08 during midday trading on Friday, reaching $4.32. 16,083 shares of the company were exchanged, compared to its average volume of 53,703. The stock has a market cap of $130.34 million, a PE ratio of 4.11 and a beta of 2.57. The business's fifty day moving average is $3.97 and its two-hundred day moving average is $4.16. China Automotive Systems has a one year low of $3.34 and a one year high of $5.37.
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%.
Institutional Trading of China Automotive Systems
Large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in shares of China Automotive Systems in the first quarter valued at $57,000. Two Sigma Securities LLC bought a new position in China Automotive Systems during the fourth quarter valued at $86,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of China Automotive Systems by 22.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,586 shares of the auto parts company's stock worth $437,000 after buying an additional 19,484 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of 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 worth $590,000 after buying an additional 7,119 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its position in shares of China Automotive Systems by 2.6% during 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 buying an additional 7,119 shares in the last quarter. Institutional investors own 5.17% of the company's stock.
Analysts Set New Price Targets
Separately, Wall Street Zen upgraded China Automotive Systems from a "hold" rating to a "buy" rating in a research note on Monday, May 19th.
Check Out Our Latest Research Report on CAAS
About China Automotive Systems
(
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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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