China Automotive Systems, Inc. (NASDAQ:CAAS) Short Interest Up 192.1% in May

China Automotive Systems, Inc. (NASDAQ:CAAS) was the target of a large growth in short interest in May. As of May 31st, there was short interest totalling 11,100 shares, a growth of 192.1% from the May 15th total of 3,800 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 40,600 shares, the short-interest ratio is presently 0.3 days.

China Automotive Systems Price Performance

Shares of China Automotive Systems stock opened at $4.40 on Friday. China Automotive Systems has a one year low of $3.34 and a one year high of $5.37. The firm has a market capitalization of $132.75 million, a price-to-earnings ratio of 4.19 and a beta of 2.57. The business has a 50-day simple moving average of $3.97 and a 200 day simple moving average of $4.16.

China Automotive Systems (NASDAQ:CAAS) last issued its earnings results on Wednesday, May 14th. The auto parts company reported $0.24 EPS for the quarter. China Automotive Systems had a return on equity of 8.22% and a net margin of 5.12%.

Institutional Trading of China Automotive Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAAS. Virtu Financial LLC bought a new stake in China Automotive Systems during the 1st quarter worth approximately $57,000. Two Sigma Securities LLC bought a new stake in China Automotive Systems during the 4th quarter worth approximately $86,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in China Automotive Systems by 22.4% during 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 purchasing an additional 19,484 shares in the last quarter. Empowered Funds LLC increased its holdings in 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 in the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in China Automotive Systems by 2.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 280,206 shares of the auto parts company’s stock worth $1,149,000 after purchasing an additional 7,119 shares in the last quarter. 5.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised China Automotive Systems from a “hold” rating to a “buy” rating in a research report on Monday, May 19th.

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.