Short Interest in China Automotive Systems, Inc. (NASDAQ:CAAS) Grows By 150.0%

China Automotive Systems, Inc. (NASDAQ:CAAS) was the target of a large increase in short interest in May. As of May 31st, there was short interest totalling 8,000 shares, an increase of 150.0% from the April 30th total of 3,200 shares. Based on an average daily volume of 21,700 shares, the short-interest ratio is presently 0.4 days. Currently, 0.1% of the shares of the company are sold short.

CAAS has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded China Automotive Systems from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a research report on Monday, March 11th. ValuEngine upgraded China Automotive Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, February 27th. Finally, Greenridge Global reiterated a “buy” rating on shares of China Automotive Systems in a research report on Friday, March 29th.

CAAS stock traded up $0.03 during midday trading on Monday, reaching $2.17. The stock had a trading volume of 6,385 shares, compared to its average volume of 13,339. The firm has a fifty day moving average price of $2.47. The stock has a market cap of $70.17 million, a P/E ratio of 27.12 and a beta of 1.56. China Automotive Systems has a 52-week low of $2.00 and a 52-week high of $5.00.

China Automotive Systems (NASDAQ:CAAS) last announced its quarterly earnings data on Thursday, May 9th. The auto parts company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $109.19 million for the quarter, compared to analyst estimates of $126.56 million. China Automotive Systems had a negative return on equity of 0.17% and a negative net margin of 0.11%. During the same quarter last year, the firm posted $0.14 EPS. Analysts anticipate that China Automotive Systems will post 0.17 EPS for the current fiscal year.

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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 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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