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


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China Automotive Systems, Inc. (NASDAQ:CAAS) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 226,300 shares, an increase of 170.7% from the March 15th total of 83,600 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average trading volume of 261,600 shares, the days-to-cover ratio is presently 0.9 days.

CAAS has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded China Automotive Systems from a “hold” rating to a “sell” rating in a research report on Friday, April 2nd. Greenridge Global raised China Automotive Systems from a “sell” rating to a “hold” rating in a report on Wednesday, March 31st.

China Automotive Systems stock opened at $4.64 on Wednesday. China Automotive Systems has a 52 week low of $1.61 and a 52 week high of $13.69. The stock has a market capitalization of $143.15 million, a P/E ratio of 464.00 and a beta of 3.28. The stock has a fifty day moving average of $5.34 and a 200-day moving average of $5.29.

China Automotive Systems (NASDAQ:CAAS) last posted its quarterly earnings results on Monday, March 29th. The auto parts company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. During the same period last year, the firm posted $0.06 EPS. As a group, research analysts anticipate that China Automotive Systems will post -0.05 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. ExodusPoint Capital Management LP acquired a new position in China Automotive Systems in the 4th quarter worth about $88,000. Virtu Financial LLC acquired a new position in China Automotive Systems in the 4th quarter worth about $111,000. Finally, Jane Street Group LLC acquired a new position in China Automotive Systems in the 4th quarter worth about $311,000. 3.11% of the stock is owned by institutional investors and hedge funds.

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 company 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 electronic and hydraulic power steering systems and parts.

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