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

China Automotive Systems, Inc. (NASDAQ:CAAS) was the target of a significant 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 volume of 69,900 shares, the short-interest ratio is currently 0.7 days. Currently, 0.4% of the shares of the company are sold short.

China Automotive Systems Stock Performance

Shares of CAAS traded down $0.17 during trading hours on Tuesday, hitting $4.43. The stock had a trading volume of 17,544 shares, compared to its average volume of 54,429. The firm has a market capitalization of $133.72 million, a price-to-earnings ratio of 3.67 and a beta of 2.44. The firm has a 50-day moving average price of $3.77 and a 200 day moving average price of $3.68. China Automotive Systems has a fifty-two week low of $3.04 and a fifty-two week high of $4.94.

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

China Automotive Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Tuesday, July 30th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 72.23%. The ex-dividend date was Tuesday, July 30th.

Hedge Funds Weigh In On China Automotive Systems

A number of institutional investors and hedge funds have recently bought and sold shares of CAAS. Renaissance Technologies LLC boosted its holdings in shares of China Automotive Systems by 1.7% during the 2nd quarter. Renaissance Technologies LLC now owns 419,994 shares of the auto parts company’s stock worth $1,491,000 after purchasing an additional 6,900 shares during the last quarter. American Century Companies Inc. purchased a new position in China Automotive Systems during the second quarter worth approximately $36,000. Finally, Empowered Funds LLC boosted its stake in China Automotive Systems by 8.2% during the first quarter. Empowered Funds LLC now owns 120,409 shares of the auto parts company’s stock worth $427,000 after buying an additional 9,100 shares during the last quarter. 5.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of China Automotive Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 14th.

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.