China Automotive Systems, Inc. (NASDAQ:CAAS) Sees Large Increase in Short Interest

China Automotive Systems, Inc. (NASDAQ:CAAS) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 35,165 shares, an increase of 56.2% from the November 30th total of 22,520 shares. Based on an average daily trading volume, of 25,508 shares, the short-interest ratio is currently 1.4 days. Approximately 0.3% of the company’s shares are short sold. Approximately 0.3% of the company’s shares are short sold. Based on an average daily trading volume, of 25,508 shares, the short-interest ratio is currently 1.4 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of China Automotive Systems in a report on Monday, December 22nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

China Automotive Systems Trading Down 1.4%

China Automotive Systems stock opened at $4.19 on Monday. The firm has a market cap of $126.41 million, a P/E ratio of 3.77 and a beta of 0.86. China Automotive Systems has a 1-year low of $3.50 and a 1-year high of $5.37. The firm has a 50-day moving average of $4.23 and a 200-day moving average of $4.28.

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

Hedge Funds Weigh In On China Automotive Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in CAAS. Citadel Advisors LLC purchased a new stake in China Automotive Systems in the third quarter worth $213,000. Virtu Financial LLC purchased a new position in China Automotive Systems during the 3rd quarter valued at $86,000. Empowered Funds LLC raised its holdings in China Automotive Systems by 8.6% in the 1st quarter. Empowered Funds LLC now owns 156,258 shares of the auto parts company’s stock worth $691,000 after purchasing an additional 12,402 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in China Automotive Systems by 2.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 301,155 shares of the auto parts company’s stock worth $1,229,000 after purchasing an additional 8,547 shares in the last quarter. 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.