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

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

China Automotive Systems Trading Down 1.1 %

CAAS stock traded down $0.04 during trading on Friday, hitting $3.53. 11,343 shares of the company’s stock were exchanged, compared to its average volume of 42,351. The business has a 50-day moving average price of $3.45 and a two-hundred day moving average price of $3.41. The stock has a market capitalization of $106.56 million, a price-to-earnings ratio of 2.82 and a beta of 2.45. China Automotive Systems has a 52-week low of $3.04 and a 52-week high of $5.73.

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On China Automotive Systems

An institutional investor recently raised its position in China Automotive Systems stock. Connor Clark & Lunn Investment Management Ltd. raised its position in China Automotive Systems, Inc. (NASDAQ:CAAS) by 32.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,261 shares of the auto parts company’s stock after buying an additional 11,655 shares during the quarter. 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. 5.17% of the stock is owned by institutional investors.

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.