China Automotive Systems, Inc. (NASDAQ:CAAS) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 16,800 shares, a decrease of 13.0% from the July 31st total of 19,300 shares. Based on an average trading volume of 14,100 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.1% of the shares of the company are short sold.

A number of analysts recently issued reports on the stock. ValuEngine raised shares of China Automotive Systems from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research downgraded shares of China Automotive Systems from a “buy” rating to a “hold” rating in a report on Friday, August 9th.

An institutional investor recently raised its position in China Automotive Systems stock. Renaissance Technologies LLC increased its position in shares of China Automotive Systems, Inc. (NASDAQ:CAAS) by 6.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 346,124 shares of the auto parts company’s stock after buying an additional 20,433 shares during the period. Renaissance Technologies LLC owned 1.07% of China Automotive Systems worth $827,000 as of its most recent filing with the SEC. 2.70% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ CAAS traded up $0.02 during mid-day trading on Friday, reaching $2.26. 15,538 shares of the stock were exchanged, compared to its average volume of 17,242. The business’s 50 day moving average is $1.99 and its 200-day moving average is $2.60. China Automotive Systems has a 1 year low of $1.70 and a 1 year high of $5.00. The company has a market capitalization of $62.99 million, a P/E ratio of 28.25 and a beta of 1.57.

China Automotive Systems (NASDAQ:CAAS) last announced its quarterly earnings results on Thursday, August 8th. The auto parts company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.07. China Automotive Systems had a net margin of 0.26% and a return on equity of 0.37%. The firm had revenue of $105.75 million for the quarter, compared to the consensus estimate of $121.01 million. During the same period in the prior year, the firm posted $0.03 earnings per share. Equities analysts forecast that China Automotive Systems will post 0.16 EPS for the current year.

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 company 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 electronic systems and parts.

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