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

China Automotive Systems, Inc. (NASDAQ:CAAS) was the recipient 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 days-to-cover ratio is currently 0.7 days. Approximately 0.4% of the company’s shares are sold short.

China Automotive Systems Price Performance

Shares of CAAS stock traded down $0.17 during trading on Tuesday, hitting $4.43. 17,544 shares of the stock traded hands, compared to its average volume of 54,429. China Automotive Systems has a 52-week low of $3.04 and a 52-week high of $4.94. The firm has a market capitalization of $133.72 million, a P/E ratio of 3.67 and a beta of 2.44. The firm’s fifty day moving average price is $3.77 and its 200-day moving average price is $3.68.

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

China Automotive Systems Announces Dividend

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On China Automotive Systems

A number of institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. acquired a new position in shares of China Automotive Systems in the 2nd quarter worth approximately $36,000. Empowered Funds LLC raised its position in China Automotive Systems by 8.2% in the first quarter. Empowered Funds LLC now owns 120,409 shares of the auto parts company’s stock valued at $427,000 after purchasing an additional 9,100 shares during the period. Finally, Renaissance Technologies LLC raised its position in China Automotive Systems by 1.7% in the second quarter. Renaissance Technologies LLC now owns 419,994 shares of the auto parts company’s stock valued at $1,491,000 after purchasing an additional 6,900 shares during the period. 5.17% of the stock is currently owned by institutional investors and hedge funds.

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.