Research analysts at StockNews.com began coverage on shares of China Automotive Systems (NASDAQ:CAAS - Get Free Report) in a note issued to investors on Wednesday. The brokerage set a "buy" rating on the auto parts company's stock.
China Automotive Systems Stock Performance
Shares of CAAS traded down $0.48 during mid-day trading on Wednesday, reaching $4.78. 167,984 shares of the company were exchanged, compared to its average volume of 55,119. The business has a 50 day simple moving average of $4.37 and a two-hundred day simple moving average of $4.27. The stock has a market capitalization of $144.29 million, a PE ratio of 4.55 and a beta of 2.27. China Automotive Systems has a 52 week low of $3.34 and a 52 week high of $5.37.
China Automotive Systems (NASDAQ:CAAS - Get Free Report) last released its quarterly earnings results on Friday, March 28th. The auto parts company reported $0.30 earnings per share (EPS) for the quarter. China Automotive Systems had a net margin of 5.12% and a return on equity of 8.22%. The firm had revenue of $188.70 million during the quarter.
Institutional Investors Weigh In On China Automotive Systems
Large investors have recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC boosted its holdings in shares of China Automotive Systems by 2.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 280,206 shares of the auto parts company's stock worth $1,149,000 after buying an additional 7,119 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in China Automotive Systems in the fourth quarter worth $86,000. Renaissance Technologies LLC increased its stake in China Automotive Systems by 4.8% in the fourth quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company's stock valued at $1,726,000 after purchasing an additional 19,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of China Automotive Systems by 22.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,586 shares of the auto parts company's stock valued at $437,000 after purchasing an additional 19,484 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of China Automotive Systems by 5.2% during the 4th quarter. Empowered Funds LLC now owns 143,856 shares of the auto parts company's stock worth $590,000 after purchasing an additional 7,119 shares in the last quarter. Institutional investors and hedge funds own 5.17% of the company's stock.
China Automotive Systems Company Profile
(
Get Free Report)
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.
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