Short Interest in China Automotive Systems, Inc. (NASDAQ:CAAS) Decreases By 32.8%

China Automotive Systems, Inc. (NASDAQ:CAAS) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totaling 24,200 shares, a decline of 32.8% from the September 30th total of 36,000 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average trading volume of 45,200 shares, the short-interest ratio is currently 0.5 days. Based on an average trading volume of 45,200 shares, the short-interest ratio is currently 0.5 days. Approximately 0.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CAAS. Bridgeway Capital Management LLC boosted its position in China Automotive Systems by 2.9% during the second quarter. Bridgeway Capital Management LLC now owns 301,155 shares of the auto parts company’s stock valued at $1,229,000 after purchasing an additional 8,547 shares during the last quarter. Empowered Funds LLC boosted its position in China Automotive Systems by 8.6% during the first quarter. Empowered Funds LLC now owns 156,258 shares of the auto parts company’s stock valued at $691,000 after purchasing an additional 12,402 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in China Automotive Systems by 18.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 126,280 shares of the auto parts company’s stock valued at $558,000 after purchasing an additional 19,694 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in China Automotive Systems during the first quarter valued at $57,000. Hedge funds and other institutional investors own 5.17% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of China Automotive Systems in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, China Automotive Systems presently has an average rating of “Hold”.

China Automotive Systems Stock Performance

Shares of CAAS stock traded up $0.06 on Tuesday, reaching $4.30. 10,431 shares of the company’s stock traded hands, compared to its average volume of 40,219. China Automotive Systems has a 12-month low of $3.50 and a 12-month high of $5.37. The company has a market capitalization of $129.86 million, a P/E ratio of 4.44 and a beta of 2.78. The business’s 50 day moving average price is $4.48 and its two-hundred day moving average price is $4.24.

China Automotive Systems (NASDAQ:CAAS) last issued its quarterly earnings results on Wednesday, August 13th. The auto parts company reported $0.25 earnings per share for the quarter. China Automotive Systems had a return on equity of 7.39% and a net margin of 4.22%.The business had revenue of $176.24 million for the quarter. China Automotive Systems has set its FY 2025 guidance at EPS.

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.