Short Interest in China Automotive Systems, Inc. (NASDAQ:CAAS) Drops By 14.5%

China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report) was the recipient of a large decline in short interest in March. As of March 15th, there was short interest totalling 23,000 shares, a decline of 14.5% from the February 28th total of 26,900 shares. Currently, 0.2% of the company's stock are short sold. Based on an average daily volume of 37,000 shares, the days-to-cover ratio is presently 0.6 days.

China Automotive Systems Trading Down 2.4 %

CAAS stock traded down $0.09 during midday trading on Monday, hitting $3.70. The company's stock had a trading volume of 61,139 shares, compared to its average volume of 55,787. China Automotive Systems has a 12 month low of $3.34 and a 12 month high of $5.37. The company has a market cap of $111.63 million, a PE ratio of 3.52 and a beta of 2.33. The firm's 50-day moving average is $4.39 and its 200-day moving average is $4.29.

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

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on China Automotive Systems in a research report on Thursday. They set a "buy" rating for the company.

Institutional Trading of China Automotive Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Two Sigma Securities LLC purchased a new stake in China Automotive Systems in the 4th quarter worth approximately $86,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in 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 during the period. Renaissance Technologies LLC boosted its holdings in China Automotive Systems by 4.8% in the 4th quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company's stock worth $1,726,000 after buying an additional 19,100 shares during the period. Bridgeway Capital Management LLC raised its holdings 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 acquiring an additional 7,119 shares during the period. Finally, Empowered Funds LLC boosted its stake in shares of China Automotive Systems by 5.2% in the fourth quarter. Empowered Funds LLC now owns 143,856 shares of the auto parts company's stock worth $590,000 after acquiring an additional 7,119 shares during the period. 5.17% of the stock is owned by hedge funds and other institutional investors.

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.