China Automotive Systems, Inc. (NASDAQ:CAAS) Sees Significant Increase in Short Interest

China Automotive Systems, Inc. (NASDAQ:CAASGet Free Report) was the target of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 20,600 shares, an increase of 9.6% from the May 15th total of 18,800 shares. Based on an average trading volume of 41,100 shares, the short-interest ratio is currently 0.5 days. Approximately 0.2% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CAAS. WINTON GROUP Ltd increased its holdings in China Automotive Systems by 78.9% in the 3rd quarter. WINTON GROUP Ltd now owns 43,600 shares of the auto parts company’s stock valued at $170,000 after buying an additional 19,231 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of China Automotive Systems by 32.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,261 shares of the auto parts company’s stock worth $184,000 after acquiring an additional 11,655 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of China Automotive Systems by 8.2% during the 1st quarter. Empowered Funds LLC now owns 120,409 shares of the auto parts company’s stock valued at $427,000 after acquiring an additional 9,100 shares in the last quarter. 5.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, raised shares of China Automotive Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 25th.

Get Our Latest Analysis on CAAS

China Automotive Systems Stock Performance

Shares of CAAS traded down $0.02 during trading hours on Tuesday, reaching $3.85. 32,217 shares of the company traded hands, compared to its average volume of 42,282. The stock’s fifty day moving average is $3.68 and its 200 day moving average is $3.48. China Automotive Systems has a 1-year low of $3.04 and a 1-year high of $5.73. The stock has a market cap of $116.22 million, a P/E ratio of 3.05 and a beta of 2.44.

China Automotive Systems (NASDAQ:CAASGet Free Report) last posted its quarterly earnings results on Tuesday, May 14th. The auto parts company reported $0.27 EPS for the quarter. China Automotive Systems had a return on equity of 10.84% and a net margin of 6.82%. The firm had revenue of $139.39 million during the quarter.

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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