China Automotive Systems, Inc. (NASDAQ:CAAS) Short Interest Up 45.2% in October

China Automotive Systems, Inc. (NASDAQ:CAAS) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 10,600 shares, a growth of 45.2% from the October 15th total of 7,300 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 66,100 shares, the days-to-cover ratio is presently 0.2 days.

China Automotive Systems Trading Up 1.9 %

Shares of CAAS stock traded up $0.08 on Friday, reaching $4.33. The company had a trading volume of 25,844 shares, compared to its average volume of 57,514. The stock has a market cap of $130.71 million, a PE ratio of 4.12 and a beta of 2.45. The company has a 50-day moving average of $4.20 and a 200-day moving average of $3.89. China Automotive Systems has a 12 month low of $3.04 and a 12 month high of $4.97.

China Automotive Systems (NASDAQ:CAAS) last announced its quarterly earnings results on Tuesday, August 13th. The auto parts company reported $0.24 EPS for the quarter. The company had revenue of $158.61 million during the quarter. China Automotive Systems had a return on equity of 8.24% and a net margin of 5.12%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut China Automotive Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 14th.

Institutional Trading of China Automotive Systems

A number of institutional investors and hedge funds have recently modified their holdings of CAAS. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of China Automotive Systems by 14.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,102 shares of the auto parts company’s stock valued at $401,000 after acquiring an additional 11,197 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of China Automotive Systems in the 2nd quarter valued at approximately $36,000. Empowered Funds LLC grew its position in shares of China Automotive Systems by 8.2% in the 1st quarter. Empowered Funds LLC now owns 120,409 shares of the auto parts company’s stock valued at $427,000 after purchasing an additional 9,100 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of China Automotive Systems by 1.7% in the 2nd quarter. Renaissance Technologies LLC now owns 419,994 shares of the auto parts company’s stock valued at $1,491,000 after purchasing an additional 6,900 shares during the period. 5.17% of the stock is owned by institutional investors.

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 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.