Short Interest in China Automotive Systems, Inc. (NASDAQ:CAAS) Increases By 73.9%

China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 40,000 shares, an increase of 73.9% from the March 15th total of 23,000 shares. Based on an average daily volume of 48,500 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.4% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Empowered Funds LLC lifted its stake in China Automotive Systems by 5.2% in the 4th quarter. Empowered Funds LLC now owns 143,856 shares of the auto parts company's stock valued at $590,000 after buying an additional 7,119 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of China Automotive Systems by 22.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,586 shares of the auto parts company's stock worth $437,000 after buying an additional 19,484 shares in the last quarter. Renaissance Technologies LLC boosted its position in China Automotive Systems by 4.8% during the fourth quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company's stock worth $1,726,000 after acquiring an additional 19,100 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in China Automotive Systems during the 4th quarter valued at about $86,000. Finally, Bridgeway Capital Management LLC lifted its stake in China Automotive Systems by 2.6% in 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. Institutional investors and hedge funds own 5.17% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of China Automotive Systems in a research note on Friday, April 11th. They set a "hold" rating for the company.

China Automotive Systems Stock Up 2.5 %

CAAS stock traded up $0.09 during trading on Friday, hitting $3.69. The company had a trading volume of 21,320 shares, compared to its average volume of 56,382. China Automotive Systems has a 52-week low of $3.34 and a 52-week high of $5.37. The company has a 50 day simple moving average of $4.27 and a 200-day simple moving average of $4.26. The firm has a market capitalization of $111.33 million, a P/E ratio of 3.51 and a beta of 2.33.

China Automotive Systems (NASDAQ:CAAS - Get Free Report) last posted its earnings results on Friday, March 28th. The auto parts company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.14. The company had revenue of $188.70 million during the quarter, compared to analyst estimates of $147.52 million. China Automotive Systems had a return on equity of 8.22% and a net margin of 5.12%.

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.