China Automotive Systems, Inc. (NASDAQ:CAAS) Short Interest Update

China Automotive Systems, Inc. (NASDAQ:CAAS) was the target of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 26,900 shares, a decrease of 24.9% from the February 13th total of 35,800 shares. Based on an average daily volume of 37,800 shares, the short-interest ratio is presently 0.7 days. Currently, 0.3% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Two Sigma Securities LLC purchased a new position in China Automotive Systems during the 4th quarter valued at $86,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of China Automotive Systems by 14.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,102 shares of the auto parts company’s stock valued at $401,000 after purchasing an additional 11,197 shares during the period. Empowered Funds LLC increased its stake in China Automotive Systems by 5.2% during the 4th quarter. Empowered Funds LLC now owns 143,856 shares of the auto parts company’s stock worth $590,000 after buying an additional 7,119 shares in the last quarter. Bridgeway Capital Management LLC raised its position in shares of China Automotive Systems by 2.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 280,206 shares of the auto parts company’s stock valued at $1,149,000 after buying an additional 7,119 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of China Automotive Systems by 4.8% during the 4th quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company’s stock valued at $1,726,000 after acquiring an additional 19,100 shares during the last quarter. 5.17% of the stock is currently owned by institutional investors.

China Automotive Systems Trading Up 3.3 %

China Automotive Systems stock traded up $0.15 during trading hours on Tuesday, hitting $4.70. 21,122 shares of the stock traded hands, compared to its average volume of 53,890. China Automotive Systems has a one year low of $3.25 and a one year high of $4.97. The firm’s 50-day moving average price is $4.23 and its two-hundred day moving average price is $4.20. The company has a market cap of $141.84 million, a PE ratio of 4.48 and a beta of 2.27.

China Automotive Systems declared that its Board of Directors has authorized a stock repurchase program on Monday, November 18th that permits the company to repurchase $5.00 million in shares. This repurchase authorization permits the auto parts company to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of China Automotive Systems in a research note on Tuesday. They issued a “buy” rating for the company.

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.