China Automotive Systems, Inc. (NASDAQ:CAAS) Sees Large Decline in Short Interest

China Automotive Systems, Inc. (NASDAQ:CAAS) was the target of a large drop in short interest in February. As of February 13th, there was short interest totaling 27,411 shares, a drop of 32.2% from the January 29th total of 40,424 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average trading volume of 20,987 shares, the days-to-cover ratio is presently 1.3 days. Based on an average trading volume of 20,987 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.3% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of China Automotive Systems in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, China Automotive Systems has a consensus rating of “Hold”.

China Automotive Systems Price Performance

NASDAQ CAAS traded down $0.08 on Monday, hitting $4.35. 50,357 shares of the stock were exchanged, compared to its average volume of 22,901. The company’s 50-day moving average price is $4.48 and its two-hundred day moving average price is $4.39. China Automotive Systems has a 52-week low of $3.50 and a 52-week high of $5.37. The company has a market capitalization of $131.09 million, a price-to-earnings ratio of 3.91 and a beta of 0.98.

Hedge Funds Weigh In On China Automotive Systems

A number of large investors have recently made changes to their positions in CAAS. XTX Topco Ltd acquired a new stake in shares of China Automotive Systems during the fourth quarter worth approximately $47,000. Citadel Advisors LLC purchased a new stake in China Automotive Systems in the 3rd quarter worth approximately $213,000. Virtu Financial LLC acquired a new stake in shares of China Automotive Systems during the 3rd quarter valued at $86,000. Bridgeway Capital Management LLC boosted its stake in shares of China Automotive Systems by 2.9% during the 2nd 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 period. Finally, Empowered Funds LLC grew its holdings in shares of China Automotive Systems by 8.6% during 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 in the last quarter. Institutional investors and hedge funds own 5.17% of the company’s stock.

China Automotive Systems Company Profile

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.