China Automotive Systems, Inc. (NASDAQ:CAAS) Short Interest Up 56.2% in December

China Automotive Systems, Inc. (NASDAQ:CAAS) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totaling 35,165 shares, an increase of 56.2% from the November 30th total of 22,520 shares. Based on an average daily trading volume, of 25,508 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.3% of the company’s stock are sold short. Currently, 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 25,508 shares, the days-to-cover ratio is presently 1.4 days.

China Automotive Systems Stock Performance

NASDAQ:CAAS opened at $4.28 on Wednesday. The stock has a market cap of $129.13 million, a price-to-earnings ratio of 3.86 and a beta of 0.86. China Automotive Systems has a one year low of $3.50 and a one year high of $5.37. The business’s 50-day simple moving average is $4.23 and its 200 day simple moving average is $4.28.

China Automotive Systems (NASDAQ:CAAS) last posted its quarterly earnings data on Wednesday, November 12th. The auto parts company reported $0.32 earnings per share (EPS) for the quarter. China Automotive Systems had a return on equity of 8.38% and a net margin of 4.62%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of China Automotive Systems in a report on Monday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, China Automotive Systems presently has an average rating of “Hold”.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CAAS. Empowered Funds LLC increased its position in shares of China Automotive Systems by 8.6% in the 1st quarter. Empowered Funds LLC now owns 156,258 shares of the auto parts company’s stock worth $691,000 after purchasing an additional 12,402 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in China Automotive Systems by 2.9% in the second quarter. Bridgeway Capital Management LLC now owns 301,155 shares of the auto parts company’s stock valued at $1,229,000 after buying an additional 8,547 shares during the last quarter. Virtu Financial LLC acquired a new stake in China Automotive Systems during the third quarter valued at approximately $86,000. Finally, Citadel Advisors LLC bought a new position in China Automotive Systems during the 3rd quarter worth approximately $213,000. 5.17% of the stock is currently owned by institutional investors.

About China Automotive Systems

China Automotive Systems, Inc (NASDAQ: CAAS) is a leading designer, manufacturer and marketer of power steering systems and related components primarily for the automotive industry in China. The company’s core business centers on hydraulic and electric power steering products, steering columns, steering gearboxes and electronic control units. By integrating research and development, manufacturing and sales, China Automotive Systems aims to deliver high-quality steering solutions that meet the performance and safety requirements of global automakers.

The company’s product portfolio includes traditional hydraulic power steering systems, which have long been favored for their reliability, as well as advanced electric power steering units that offer improved fuel efficiency and enhanced vehicle control.