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

China Automotive Systems, Inc. (NASDAQ:CAAS) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 10,600 shares, a growth of 45.2% from the October 15th total of 7,300 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 66,100 shares, the short-interest ratio is presently 0.2 days.

Institutional Investors Weigh In On China Automotive Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its stake in China Automotive Systems by 8.2% during the first quarter. Empowered Funds LLC now owns 120,409 shares of the auto parts company’s stock valued at $427,000 after buying an additional 9,100 shares during the last quarter. American Century Companies Inc. acquired a new stake in China Automotive Systems during the second quarter valued at $36,000. Renaissance Technologies LLC boosted its stake in shares of China Automotive Systems by 1.7% in the second quarter. Renaissance Technologies LLC now owns 419,994 shares of the auto parts company’s stock worth $1,491,000 after acquiring an additional 6,900 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of 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 acquiring an additional 11,197 shares during the period. 5.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut China Automotive Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 14th.

China Automotive Systems Trading Down 2.5 %

China Automotive Systems stock traded down $0.11 during midday trading on Thursday, reaching $4.30. The stock had a trading volume of 30,300 shares, compared to its average volume of 57,638. The company has a market capitalization of $129.82 million, a P/E ratio of 3.74 and a beta of 2.45. The company has a fifty day moving average price of $4.17 and a two-hundred day moving average price of $3.89. China Automotive Systems has a 12 month low of $3.04 and a 12 month high of $4.97.

China Automotive Systems (NASDAQ:CAAS) last released its quarterly earnings results on Tuesday, August 13th. The auto parts company reported $0.24 EPS for the quarter. China Automotive Systems had a net margin of 6.02% and a return on equity of 9.50%. The firm had revenue of $158.61 million during the quarter.

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.