Short Interest in China Automotive Systems, Inc. (NASDAQ:CAAS) Rises By 336.4%

China Automotive Systems, Inc. (NASDAQ:CAAS) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 24,000 shares, a growth of 336.4% from the March 31st total of 5,500 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 39,200 shares, the short-interest ratio is currently 0.6 days.

Hedge Funds Weigh In On China Automotive Systems

An institutional investor recently raised its position in China Automotive Systems stock. Connor Clark & Lunn Investment Management Ltd. increased its stake in China Automotive Systems, Inc. (NASDAQ:CAAS) by 32.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,261 shares of the auto parts company’s stock after purchasing an additional 11,655 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.16% of China Automotive Systems worth $184,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 5.17% of the company’s stock.

China Automotive Systems Stock Performance

Shares of CAAS stock remained flat at $3.57 on Thursday. 28,101 shares of the stock traded hands, compared to its average volume of 42,739. China Automotive Systems has a one year low of $3.04 and a one year high of $5.73. The firm has a market cap of $107.78 million, a price-to-earnings ratio of 2.81 and a beta of 2.45. The company has a fifty day simple moving average of $3.45 and a two-hundred day simple moving average of $3.41.

China Automotive Systems (NASDAQ:CAAS) last announced its quarterly earnings results on Thursday, March 28th. The auto parts company reported $0.36 earnings per share (EPS) for the quarter. China Automotive Systems had a net margin of 6.53% and a return on equity of 10.84%. The company had revenue of $159.16 million during the quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of China Automotive Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 29th.

China Automotive Systems Company Profile

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.