China Automotive Systems, Inc. (NASDAQ:CAAS) Short Interest Up 34.9% in January

China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 11,200 shares, a growth of 34.9% from the December 31st total of 8,300 shares. Based on an average daily trading volume, of 48,600 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company's shares are sold short.

Institutional Trading of China Automotive Systems

Hedge funds have recently made changes to their positions in the business. Empowered Funds LLC increased its stake 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 buying an additional 7,119 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of China Automotive Systems by 14.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,102 shares of the auto parts company's stock worth $401,000 after acquiring an additional 11,197 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of China Automotive Systems by 1.7% during the second quarter. Renaissance Technologies LLC now owns 419,994 shares of the auto parts company's stock worth $1,491,000 after acquiring an additional 6,900 shares during the period. Finally, American Century Companies Inc. acquired a new stake in shares of China Automotive Systems in the second quarter valued at $36,000. Institutional investors and hedge funds own 5.17% of the company's stock.

China Automotive Systems Stock Down 0.5 %

Shares of CAAS traded down $0.02 during trading on Monday, reaching $4.03. 30,828 shares of the company traded hands, compared to its average volume of 25,560. The stock has a 50-day simple moving average of $4.13 and a 200-day simple moving average of $4.09. The stock has a market cap of $121.61 million, a PE ratio of 3.83 and a beta of 2.33. China Automotive Systems has a twelve month low of $3.17 and a twelve month high of $4.97.

China Automotive Systems announced that its Board of Directors has initiated a share buyback program on Monday, November 18th that allows the company to buyback $5.00 million in outstanding shares. This buyback authorization allows the auto parts company to repurchase up to 3.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

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.