China Automotive Systems, Inc. (NASDAQ:CAAS) Short Interest Down 33.5% in December

China Automotive Systems, Inc. (NASDAQ:CAAS) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 23,381 shares, a drop of 33.5% from the December 15th total of 35,165 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average trading volume of 21,309 shares, the short-interest ratio is presently 1.1 days. Based on an average trading volume of 21,309 shares, the short-interest ratio is presently 1.1 days. Approximately 0.2% of the shares of the stock are sold short.

China Automotive Systems Stock Performance

CAAS opened at $4.72 on Friday. China Automotive Systems has a 1 year low of $3.50 and a 1 year high of $5.37. The company’s 50 day simple moving average is $4.29 and its 200 day simple moving average is $4.31. The stock has a market capitalization of $142.40 million, a PE ratio of 4.25 and a beta of 0.96.

China Automotive Systems (NASDAQ:CAAS) last posted its quarterly earnings results on Wednesday, November 12th. The auto parts company reported $0.32 earnings per share for the quarter. China Automotive Systems had a net margin of 4.62% and a return on equity of 8.38%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of China Automotive Systems in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On China Automotive Systems

A number of institutional investors have recently added to or reduced their stakes in CAAS. Virtu Financial LLC purchased a new position in shares of China Automotive Systems in the 3rd quarter worth about $86,000. Citadel Advisors LLC purchased a new position in China Automotive Systems in the third quarter valued at approximately $213,000. Empowered Funds LLC lifted 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 buying an additional 12,402 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its stake 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 worth $1,229,000 after buying an additional 8,547 shares during the period. Hedge funds and other institutional investors own 5.17% of the company’s stock.

About China Automotive Systems

China Automotive Systems, Inc (NASDAQ: CAAS) is a leading designer, manufacturer and marketer of power steering systems and related components primarily for the automotive industry in China. The company’s core business centers on hydraulic and electric power steering products, steering columns, steering gearboxes and electronic control units. By integrating research and development, manufacturing and sales, China Automotive Systems aims to deliver high-quality steering solutions that meet the performance and safety requirements of global automakers.

The company’s product portfolio includes traditional hydraulic power steering systems, which have long been favored for their reliability, as well as advanced electric power steering units that offer improved fuel efficiency and enhanced vehicle control.