China Automotive Systems, Inc. (NASDAQ:CAAS) Short Interest Update

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China Automotive Systems, Inc. (NASDAQ:CAAS) was the recipient of a large increase in short interest in the month of 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. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 21,700 shares, the short-interest ratio is currently 0.4 days.

Shares of NASDAQ CAAS traded down $0.13 during midday trading on Wednesday, reaching $2.31. 17,000 shares of the stock were exchanged, compared to its average volume of 35,219. The firm has a 50 day moving average of $2.30. The stock has a market cap of $76.00 million, a PE ratio of 28.88 and a beta of 1.53. China Automotive Systems has a twelve month low of $2.00 and a twelve month high of $5.00.

China Automotive Systems (NASDAQ:CAAS) last posted its earnings results on Thursday, May 9th. The auto parts company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.03. China Automotive Systems had a negative net margin of 0.11% and a negative return on equity of 0.17%. The firm had revenue of $109.19 million during the quarter, compared to the consensus estimate of $126.56 million. During the same quarter last year, the firm earned $0.14 EPS. As a group, analysts expect that China Automotive Systems will post 0.17 EPS for the current year.

CAAS has been the topic of a number of research reports. Zacks Investment Research raised shares of Garrett Motion from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Greenridge Global reiterated a “buy” rating on shares of China Automotive Systems in a report on Friday, March 29th.

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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