China Automotive Systems, Inc. (NASDAQ:CAAS) Short Interest Update

China Automotive Systems, Inc. (NASDAQ:CAAS) saw a significant decline in short interest in March. As of March 15th, there was short interest totalling 23,000 shares, a decline of 14.5% from the February 28th total of 26,900 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 37,000 shares, the days-to-cover ratio is presently 0.6 days.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on China Automotive Systems in a research report on Thursday. They issued a “buy” rating for the company.

China Automotive Systems Trading Up 0.5 %

Shares of CAAS opened at $4.19 on Thursday. China Automotive Systems has a 12-month low of $3.34 and a 12-month high of $5.37. The stock has a market cap of $126.48 million, a P/E ratio of 3.99 and a beta of 2.27. The company has a 50-day moving average of $4.39 and a two-hundred day moving average of $4.28.

China Automotive Systems (NASDAQ:CAAS) last released its quarterly earnings results on Friday, March 28th. The auto parts company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.14. China Automotive Systems had a return on equity of 8.22% and a net margin of 5.12%. The company had revenue of $188.70 million during the quarter, compared to the consensus estimate of $147.52 million.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Two Sigma Securities LLC purchased a new stake in shares of China Automotive Systems during the fourth quarter worth about $86,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in China Automotive Systems by 22.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,586 shares of the auto parts company’s stock worth $437,000 after acquiring an additional 19,484 shares during the period. Renaissance Technologies LLC grew its stake in China Automotive Systems by 4.8% in the 4th quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company’s stock worth $1,726,000 after acquiring an additional 19,100 shares during the period. Bridgeway Capital Management LLC raised its holdings in China Automotive Systems by 2.6% in the 4th quarter. Bridgeway Capital Management LLC now owns 280,206 shares of the auto parts company’s stock valued at $1,149,000 after acquiring an additional 7,119 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of China Automotive Systems by 5.2% during the 4th quarter. Empowered Funds LLC now owns 143,856 shares of the auto parts company’s stock worth $590,000 after purchasing an additional 7,119 shares during the period. Institutional investors and hedge funds own 5.17% of the company’s stock.

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.