China Automotive Systems, Inc. (NASDAQ:CAAS – Get Rating) was the target of a sharp rise in short-term interest rates in December. As of December 15th, there were a total of 230,200 shares shorted, up 117.8% from the November 30th total of 105,700 shares. Based on an average daily trading volume of 174,400 shares, the ratio of days covered is currently 1.3 days. His 2.2% of the company’s shares are currently sold short.
Automotive systems in China up 2.1%
NASDAQ CAAS opened Thursday at $5.86. The stock has a 50-day moving average of $5.45 and a 200-day moving average of $4.15. China Automotive Systems has a 12-month low of $2.20 and a 12-month high of $8.13. The stock has a market cap of $179.67 million, a PE ratio of 8.25 and a beta of 2.24.
China Automotive Systems (NASDAQ:CAAS – Get Rating) last announced its quarterly earnings data on Monday, November 14th. The auto parts company reported his EPS of $0.24 for the quarter, beating the consensus estimate of $0.04 by $0.20. China Automotive Systems posted a net profit margin of 4.05% and a return on equity of 6.61%. The company’s revenue for the quarter was $137.21 million, compared with analyst estimates of $120.56 million. On average, analysts expect China Automotive Systems to report 0.62 EPS for the current financial year.
institution inflow and outflow
A hedge fund recently bought a new stake in China Automotive Systems. Marshall Wace LLP purchased a new position in China Automotive Systems, Inc. (NASDAQ: CAAS-Get Rating) in the third quarter, according to his latest 13F filings with the Securities and Exchange Commission (SEC). An institutional investor purchased 48,480 shares of an auto parts company worth approximately $191,000. Marshall Wace LLP owned approximately 0.16% of China Automotive Systems at the end of the most recent quarter. His 3.00% of shares are owned by hedge funds and other institutional investors.
Analyst Rating Change
Several equity analysts have commented on the company. TheStreet lowered China Automotive Systems’ rating from ‘b-‘ to ‘c’ in a research report on Monday, November 14. StockNews.com covered China Automotive Systems in its report on Wednesday, October 12th. They gave the company a “strong buy” rating. Finally, Greenridge Global downgraded China Automotive Systems’ rating from ‘buy’ to ‘pending’ in a report on Wednesday, December 14th.
About China Automobile System
China Automotive Systems Inc., through its subsidiaries, manufactures and sells automotive systems and components in the People’s Republic of China. We manufacture rack and pinion power steering gears for passenger cars and light duty vehicles. Integral power steering gear for heavy vehicles. Power steering parts for light vehicles. sensor modules; automotive steering systems and columns; Automotive electronic and hydraulic power steering systems and parts.
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