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

China Automotive Systems, Inc. (NASDAQ:CAAS) was the target of a large 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. Based on an average daily trading volume, of 39,200 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in China Automotive Systems stock. WINTON GROUP Ltd increased its stake in China Automotive Systems, Inc. (NASDAQ:CAAS) by 78.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,600 shares of the auto parts company’s stock after acquiring an additional 19,231 shares during the quarter. WINTON GROUP Ltd owned 0.14% of China Automotive Systems worth $170,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 5.17% of the company’s stock.

China Automotive Systems Stock Down 1.1 %

China Automotive Systems stock traded down $0.04 during mid-day trading on Friday, hitting $3.53. 11,363 shares of the stock were exchanged, compared to its average volume of 38,669. China Automotive Systems has a 12 month low of $3.04 and a 12 month high of $5.73. The firm’s fifty day simple moving average is $3.45 and its two-hundred day simple moving average is $3.41. The stock has a market capitalization of $106.57 million, a price-to-earnings ratio of 2.82 and a beta of 2.45.

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 (EPS) for the quarter. China Automotive Systems had a net margin of 6.53% and a return on equity of 10.84%. The firm had revenue of $159.16 million during the quarter.

Analysts Set New Price Targets

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

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.