China Automotive Systems, Inc. (NASDAQ:CAAS) Short Interest Down 33.5% in December

China Automotive Systems, Inc. (NASDAQ:CAAS) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 23,381 shares, a decrease of 33.5% from the December 15th total of 35,165 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average trading volume of 21,309 shares, the days-to-cover ratio is currently 1.1 days. Based on an average trading volume of 21,309 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.2% of the company’s shares are sold short.

China Automotive Systems Stock Performance

NASDAQ CAAS traded up $0.04 on Friday, reaching $4.71. 16,996 shares of the stock traded hands, compared to its average volume of 31,824. China Automotive Systems has a 12 month low of $3.50 and a 12 month high of $5.37. The company has a market cap of $141.95 million, a price-to-earnings ratio of 4.24 and a beta of 0.96. The company has a fifty day moving average price of $4.28 and a 200-day moving average price of $4.30.

China Automotive Systems (NASDAQ:CAAS) last posted its quarterly earnings results 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%.

Hedge Funds Weigh In On China Automotive Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. Virtu Financial LLC purchased a new position in China Automotive Systems during the third quarter valued at approximately $86,000. Citadel Advisors LLC bought a new stake in China Automotive Systems during the 3rd quarter valued at $213,000. Empowered Funds LLC increased its holdings 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 valued at $691,000 after acquiring an additional 12,402 shares during the period. Finally, Bridgeway Capital Management LLC raised its position in shares of China Automotive Systems by 2.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 301,155 shares of the auto parts company’s stock worth $1,229,000 after acquiring an additional 8,547 shares in the last quarter. 5.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of China Automotive Systems in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, China Automotive Systems presently has an average rating of “Hold”.

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.