Short Interest in China Automotive Systems, Inc. (NASDAQ:CAAS) Drops By 7.6%

China Automotive Systems, Inc. (NASDAQ:CAAS) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 42,400 shares, a drop of 7.6% from the September 15th total of 45,900 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average daily volume of 90,300 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

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

China Automotive Systems Stock Down 0.9 %

NASDAQ:CAAS opened at $4.19 on Friday. The company has a fifty day moving average of $3.88 and a 200-day moving average of $3.77. The firm has a market capitalization of $126.48 million, a P/E ratio of 3.25 and a beta of 2.45. China Automotive Systems has a twelve month low of $3.04 and a twelve month high of $4.97.

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

China Automotive Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Tuesday, July 30th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 76.37%. The ex-dividend date of this dividend was Tuesday, July 30th.

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 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.