China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 40,000 shares, a growth of 73.9% from the March 15th total of 23,000 shares. Based on an average daily trading volume, of 48,500 shares, the short-interest ratio is currently 0.8 days. Currently, 0.4% of the company's stock are short sold.
China Automotive Systems Price Performance
CAAS traded up $0.05 on Monday, reaching $3.74. 15,889 shares of the company traded hands, compared to its average volume of 56,377. The company has a market cap of $112.84 million, a price-to-earnings ratio of 3.56 and a beta of 2.33. The stock's 50 day moving average price is $4.26 and its 200-day moving average price is $4.25. China Automotive Systems has a 52-week low of $3.34 and a 52-week high of $5.37.
China Automotive Systems (NASDAQ:CAAS - Get Free Report) last posted its quarterly 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. China Automotive Systems had a net margin of 5.12% and a return on equity of 8.22%. The business had revenue of $188.70 million for the quarter, compared to analysts' expectations of $147.52 million.
Analyst Upgrades and Downgrades
Separately, StockNews.com initiated coverage on China Automotive Systems in a research report on Friday, April 11th. They set a "hold" rating for the company.
Get Our Latest Report on China Automotive Systems
Institutional Investors Weigh In On China Automotive Systems
Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in shares of 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 valued at $1,726,000 after buying an additional 19,100 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake 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 acquiring an additional 7,119 shares during the last quarter. Empowered Funds LLC grew its position in 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of China Automotive Systems by 22.4% during 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 purchasing an additional 19,484 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new position in shares of China Automotive Systems during the 4th quarter valued at $86,000. 5.17% of the stock is owned by hedge funds and other institutional investors.
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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