China Automotive Systems, Inc. (NASDAQ:CAAS – Get Free Report) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 42,400 shares, a drop of 7.6% from the September 15th total of 45,900 shares. Based on an average daily volume of 90,300 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.4% of the company’s stock are sold short.
Analyst Ratings Changes
Separately, StockNews.com downgraded China Automotive Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 14th.
Read Our Latest Stock Analysis on CAAS
Hedge Funds Weigh In On China Automotive Systems
China Automotive Systems Trading Down 0.9 %
Shares of CAAS traded down $0.04 during mid-day trading on Thursday, hitting $4.19. The company’s stock had a trading volume of 33,473 shares, compared to its average volume of 56,944. The firm has a 50-day simple moving average of $3.88 and a 200 day simple moving average of $3.77. The firm has a market capitalization of $126.48 million, a P/E ratio of 3.25 and a beta of 2.45. China Automotive Systems has a 1-year low of $3.04 and a 1-year high of $4.97.
China Automotive Systems (NASDAQ:CAAS – Get Free Report) last released its earnings results on Tuesday, August 13th. The auto parts company reported $0.24 earnings per share (EPS) for the quarter. The company had revenue of $158.61 million for the quarter. China Automotive Systems had a net margin of 6.02% and a return on equity of 9.50%.
China Automotive Systems Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Tuesday, July 30th were paid a dividend of $0.80 per share. The ex-dividend date was Tuesday, July 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 76.37%.
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.
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