China Automotive Systems, Inc. (NASDAQ:CAAS – Get Rating) was the recipient of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 193,700 shares, a drop of 11.6% from the March 15th total of 219,200 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average daily volume of 179,700 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. purchased a new position in shares of China Automotive Systems during the fourth quarter worth approximately $31,000. Kestra Advisory Services LLC purchased a new position in shares of China Automotive Systems during the fourth quarter worth approximately $75,000. Jane Street Group LLC purchased a new position in shares of China Automotive Systems during the fourth quarter worth approximately $132,000. Diametric Capital LP purchased a new position in shares of China Automotive Systems during the fourth quarter worth approximately $155,000. Finally, Virtu Financial LLC purchased a new position in shares of China Automotive Systems during the fourth quarter worth approximately $165,000. 3.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAAS has been the subject of a number of research reports. StockNews.com upgraded shares of China Automotive Systems from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 13th. Greenridge Global raised shares of China Automotive Systems from a "hold" rating to a "buy" rating in a report on Friday, March 31st.

China Automotive Systems Price Performance

CAAS traded down $0.13 on Friday, reaching $4.61. The company had a trading volume of 55,113 shares, compared to its average volume of 170,228. The business has a 50 day simple moving average of $6.22 and a 200 day simple moving average of $5.98. The company has a market cap of $139.18 million, a price-to-earnings ratio of 6.68 and a beta of 2.42. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.43. China Automotive Systems has a 52-week low of $2.56 and a 52-week high of $9.70.

China Automotive Systems (NASDAQ:CAAS – Get Rating) last announced its earnings results on Thursday, March 30th. The auto parts company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.07. The business had revenue of $128.80 million for the quarter, compared to the consensus estimate of $138.46 million. China Automotive Systems had a net margin of 3.99% and a return on equity of 6.45%. During the same period last year, the firm posted $0.16 earnings per share. As a group, sell-side analysts anticipate that China Automotive Systems will post 0.48 EPS for the current year.

About China Automotive Systems

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China Automotive Systems, Inc is a holding company, which engages in the manufacture and sale of automotive products, through its subsidiaries. It operates through the following geographical segments: Henglong, Jiulong, Shenyang, Wuhu, Hubei Henglong, Henglong KYB, and Other Entities. It also supplies power steering systems and component.

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