China Automotive Systems, Inc. (NASDAQ:CAAS) Short Interest Up 5.1% in December

China Automotive Systems, Inc. (NASDAQ:CAAS) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 8,300 shares, an increase of 5.1% from the November 30th total of 7,900 shares. Based on an average daily volume of 67,900 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Investors Weigh In On China Automotive Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its position in China Automotive Systems by 1.7% in the 2nd quarter. Renaissance Technologies LLC now owns 419,994 shares of the auto parts company’s stock valued at $1,491,000 after acquiring an additional 6,900 shares in the last quarter. Empowered Funds LLC raised its stake in shares of China Automotive Systems by 5.4% in the third quarter. Empowered Funds LLC now owns 136,737 shares of the auto parts company’s stock worth $629,000 after purchasing an additional 6,968 shares during the last quarter. American Century Companies Inc. bought a new position in shares of China Automotive Systems in the second quarter valued at approximately $36,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of China Automotive Systems by 14.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,102 shares of the auto parts company’s stock valued at $401,000 after purchasing an additional 11,197 shares in the last quarter. 5.17% of the stock is owned by institutional investors.

China Automotive Systems Trading Up 0.2 %

NASDAQ CAAS opened at $4.10 on Thursday. The company has a market cap of $123.76 million, a P/E ratio of 3.90 and a beta of 2.33. The company has a fifty day simple moving average of $4.35 and a 200 day simple moving average of $4.03. China Automotive Systems has a 12-month low of $3.05 and a 12-month high of $4.97.

China Automotive Systems declared that its Board of Directors has initiated a share repurchase plan on Monday, November 18th that allows the company to buyback $5.00 million in shares. This buyback authorization allows the auto parts company to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.