China Automotive Systems, Inc. (NASDAQ:CAAS) Short Interest Down 38.6% in May

China Automotive Systems, Inc. (NASDAQ:CAAS) saw a large decrease in short interest in May. As of May 15th, there was short interest totaling 30,774 shares, a decrease of 38.6% from the April 30th total of 50,123 shares. Based on an average daily volume of 44,519 shares, the short-interest ratio is presently 0.7 days. Currently, 0.3% of the company’s stock are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded China Automotive Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 20th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On China Automotive Systems

A number of hedge funds have recently bought and sold shares of the business. XTX Topco Ltd bought a new position in China Automotive Systems during the fourth quarter worth about $47,000. Citadel Advisors LLC bought a new position in China Automotive Systems during the third quarter worth about $213,000. Virtu Financial LLC bought a new position in China Automotive Systems during the third quarter worth about $86,000. Bridgeway Capital Management LLC increased 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 worth $1,229,000 after acquiring an additional 8,547 shares during the period. Finally, Empowered Funds LLC increased 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 worth $691,000 after acquiring an additional 12,402 shares during the period. 5.17% of the stock is owned by institutional investors.

China Automotive Systems Price Performance

Shares of CAAS opened at $4.45 on Friday. The firm has a market capitalization of $134.26 million, a PE ratio of 3.13 and a beta of 1.03. The company’s 50-day moving average is $4.44 and its 200-day moving average is $4.38. China Automotive Systems has a fifty-two week low of $3.86 and a fifty-two week high of $5.15.

China Automotive Systems (NASDAQ:CAAS) last issued its quarterly earnings data on Wednesday, April 22nd. The auto parts company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.54. The company had revenue of $229.19 million for the quarter, compared to analyst estimates of $118.18 million. China Automotive Systems had a net margin of 5.59% and a return on equity of 10.58%.

China Automotive Systems Company Profile

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.