China Automotive Systems, Inc. (NASDAQ:CAAS) Short Interest Up 336.4% in April

China Automotive Systems, Inc. (NASDAQ:CAAS) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 24,000 shares, an increase of 336.4% from the March 31st total of 5,500 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 39,200 shares, the short-interest ratio is presently 0.6 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in China Automotive Systems stock. Connor Clark & Lunn Investment Management Ltd. grew its stake in China Automotive Systems, Inc. (NASDAQ:CAAS) by 32.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,261 shares of the auto parts company’s stock after buying an additional 11,655 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.16% of China Automotive Systems worth $184,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 5.17% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of China Automotive Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 29th.

China Automotive Systems Stock Down 1.1 %

NASDAQ CAAS traded down $0.04 during trading on Friday, reaching $3.53. 11,363 shares of the stock traded hands, compared to its average volume of 38,669. The firm has a market cap of $106.57 million, a price-to-earnings ratio of 2.82 and a beta of 2.45. The stock’s 50-day moving average price is $3.45 and its 200 day moving average price is $3.41. China Automotive Systems has a fifty-two week low of $3.04 and a fifty-two week high of $5.73.

China Automotive Systems (NASDAQ:CAAS) last released its quarterly earnings results on Thursday, March 28th. The auto parts company reported $0.36 earnings per share for the quarter. The company had revenue of $159.16 million during the quarter. China Automotive Systems had a net margin of 6.53% and a return on equity of 10.84%.

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.