China Automotive Systems, Inc. Witnesses Significant Decrease in Short Interest

China Automotive Systems, Inc. (NASDAQ: CAAS) witnessed a noteworthy decrease in short interest in February. As of February 29th, the short interest amounted to 8,200 shares, representing a decrease of 9.9% from the previous total of 9,100 shares on February 14th. With an average daily trading volume of 54,300 shares, the short-interest ratio now stands at 0.2 days, with approximately 0.0% of the company’s stock being short sold.

Institutional Investor Activity
Several institutional investors and hedge funds have recently adjusted their holdings in China Automotive Systems. Virtu Financial LLC initiated a new position by purchasing shares of the company worth approximately $90,000 in the 4th quarter. In the same quarter, GSA Capital Partners LLP increased its position in China Automotive Systems by 34.8% and now owns 99,017 shares valued at $320,000. Bridgeway Capital Management LLC also grew its position by 4.0%, now holding 257,659 shares worth $832,000. Furthermore, Connor Clark & Lunn Investment Management Ltd. and WINTON GROUP Ltd. expanded their positions by 32.7% and 78.9% in the 3rd quarter, respectively. Collectively, hedge funds and other institutional investors now possess 5.98% of the company’s stock.

Stock Performance
On Friday, shares of China Automotive Systems opened at $3.40, indicating a 3.7% increase. The company’s 50-day moving average price is $3.32, while its 200-day moving average price is $3.47. With a 52-week low of $3.04 and a 52-week high of $6.37, China Automotive Systems has a market capitalisation of $102.65 million, a P/E ratio of 3.30, and a beta of 2.44.

Company Overview
China Automotive Systems, Inc. and its subsidiaries specialise in the manufacturing and selling of automotive systems and components in China and globally. Their product range includes rack and pinion power steering gears, integral power steering gears for heavy-duty vehicles, power steering parts for light-duty vehicles, sensor modules, automobile steering systems and columns, as well as electronic and hydraulic power steering systems and parts for automobiles.

Market Insights
Amid the recent market trends, several stocks are showing favourable prospects for investors. MarketBeat showcases five stocks that are considered better options than China Automotive Systems, along with an analysis of three home improvement stocks that could enhance your investment portfolio. Additionally, the MarketBeat Week in Review provides a comprehensive summary of the latest market news and developments, offering valuable insights to investors. Furthermore, an informative article navigates investors on how to ride out the recession with dividend kings, and another piece highlights the similarities and differences between Dollar General and Dollar Tree. Lastly, the platform identifies three natural gas stocks that present excellent dividend yields for investors.

Receive Market Insights
To receive a concise daily summary of the latest news and analysts’ ratings for China Automotive Systems and related companies, you can sign up for MarketBeat.com’s free daily email newsletter by providing your email address below.