China Automotive Systems, Inc. (NASDAQ:CAAS) Short Interest Update

China Automotive Systems, Inc. (NASDAQ:CAAS) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 14,300 shares, a decline of 20.6% from the January 15th total of 18,000 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 35,900 shares, the short-interest ratio is presently 0.4 days.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of China Automotive Systems in a research note on Friday. They set a “buy” rating on the stock.

Institutional Investors Weigh In On China Automotive Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC raised its stake in shares of China Automotive Systems by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 136,737 shares of the auto parts company’s stock valued at $629,000 after acquiring an additional 6,968 shares during the period. Bridgeway Capital Management LLC increased its stake in China Automotive Systems by 2.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 280,206 shares of the auto parts company’s stock worth $1,149,000 after buying an additional 7,119 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in China Automotive Systems by 14.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,102 shares of the auto parts company’s stock worth $401,000 after buying an additional 11,197 shares during the period. Renaissance Technologies LLC increased its stake in China Automotive Systems by 4.8% during 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. Finally, Two Sigma Securities LLC purchased a new stake in China Automotive Systems during the 4th quarter worth approximately $86,000. 5.17% of the stock is owned by hedge funds and other institutional investors.

China Automotive Systems Trading Up 5.0 %

CAAS stock traded up $0.21 during trading on Monday, reaching $4.45. 90,342 shares of the stock were exchanged, compared to its average volume of 23,510. The business has a 50 day moving average price of $4.09 and a 200-day moving average price of $4.08. China Automotive Systems has a 1 year low of $3.17 and a 1 year high of $4.97. The firm has a market capitalization of $134.35 million, a price-to-earnings ratio of 4.24 and a beta of 2.33.

China Automotive Systems announced that its board has initiated a share repurchase plan on Monday, November 18th that authorizes the company to repurchase $5.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.