Short Interest in China Automotive Systems, Inc. (NASDAQ:CAAS) Grows By 10.6%

China Automotive Systems, Inc. (NASDAQ:CAAS) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 45,900 shares, a growth of 10.6% from the August 31st total of 41,500 shares. Based on an average daily trading volume, of 69,900 shares, the short-interest ratio is presently 0.7 days. Approximately 0.4% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut China Automotive Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 14th.

Institutional Investors Weigh In On China Automotive Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAAS. American Century Companies Inc. bought a new stake in shares of China Automotive Systems during the 2nd quarter valued at $36,000. Empowered Funds LLC grew its holdings in China Automotive Systems by 8.2% in the first quarter. Empowered Funds LLC now owns 120,409 shares of the auto parts company’s stock worth $427,000 after purchasing an additional 9,100 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of China Automotive Systems by 1.7% during the second quarter. Renaissance Technologies LLC now owns 419,994 shares of the auto parts company’s stock valued at $1,491,000 after purchasing an additional 6,900 shares in the last quarter. 5.17% of the stock is owned by hedge funds and other institutional investors.

China Automotive Systems Trading Up 3.5 %

Shares of CAAS stock traded up $0.13 during trading hours on Friday, reaching $3.99. The company’s stock had a trading volume of 178,890 shares, compared to its average volume of 52,560. China Automotive Systems has a one year low of $3.04 and a one year high of $4.94. The stock has a market capitalization of $120.29 million, a P/E ratio of 3.09 and a beta of 2.44. The firm’s fifty day simple moving average is $3.77 and its 200 day simple moving average is $3.67.

China Automotive Systems (NASDAQ:CAAS) last issued its quarterly earnings data on Tuesday, August 13th. The auto parts company reported $0.24 earnings per share (EPS) for the quarter. China Automotive Systems had a net margin of 6.02% and a return on equity of 9.50%. The business had revenue of $158.61 million for the quarter.

China Automotive Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Tuesday, July 30th were given a dividend of $0.80 per share. The ex-dividend date was Tuesday, July 30th. This represents a $3.20 annualized dividend and a dividend yield of 80.30%.

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.