China Automotive Systems, Inc. (NASDAQ:CAAS – Get Free Report) saw a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 17,900 shares, a decline of 13.1% from the May 31st total of 20,600 shares. Based on an average trading volume of 40,300 shares, the short-interest ratio is currently 0.4 days. Currently, 0.2% of the shares of the stock are sold short.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised shares of China Automotive Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 25th.
Get Our Latest Stock Analysis on China Automotive Systems
China Automotive Systems Stock Performance
China Automotive Systems (NASDAQ:CAAS – Get Free Report) last posted its quarterly earnings results on Tuesday, May 14th. The auto parts company reported $0.27 earnings per share (EPS) for the quarter. The business had revenue of $139.39 million for the quarter. China Automotive Systems had a return on equity of 10.84% and a net margin of 6.82%.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in China Automotive Systems stock. Empowered Funds LLC boosted its stake in China Automotive Systems, Inc. (NASDAQ:CAAS – Free Report) by 8.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,409 shares of the auto parts company’s stock after purchasing an additional 9,100 shares during the quarter. Empowered Funds LLC owned about 0.40% of China Automotive Systems worth $427,000 as of its most recent SEC filing. Institutional investors own 5.17% of the company’s stock.
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.
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