Short Interest in China Automotive Systems, Inc. (NASDAQ:CAAS) Rises By 9.6%

China Automotive Systems, Inc. (NASDAQ:CAAS) saw a significant increase in short interest in 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. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 41,100 shares, the short-interest ratio is presently 0.5 days.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On China Automotive Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd grew its stake 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 worth $170,000 after buying an additional 19,231 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in China Automotive Systems by 32.7% in 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 buying an additional 11,655 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of China Automotive Systems by 8.2% in the 1st quarter. Empowered Funds LLC now owns 120,409 shares of the auto parts company’s stock valued at $427,000 after purchasing an additional 9,100 shares in the last quarter. Hedge funds and other institutional investors own 5.17% of the company’s stock.

China Automotive Systems Trading Up 0.3 %

Shares of NASDAQ:CAAS opened at $3.88 on Wednesday. The company has a 50 day moving average of $3.68 and a 200 day moving average of $3.48. The stock has a market cap of $117.12 million, a P/E ratio of 3.01 and a beta of 2.44. China Automotive Systems has a 12 month low of $3.04 and a 12 month high of $5.73.

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

About China Automotive Systems

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.