Shares of China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.03 and traded as high as $4.15. China Automotive Systems shares last traded at $4.10, with a volume of 27,303 shares.
China Automotive Systems Trading Up 0.2 %
The stock's fifty day moving average price is $4.35 and its two-hundred day moving average price is $4.03. The stock has a market capitalization of $123.76 million, a P/E ratio of 3.90 and a beta of 2.33.
China Automotive Systems declared that its Board of Directors has initiated a share buyback plan on Monday, November 18th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to repurchase up to 3.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.
Institutional Investors Weigh In On China Automotive Systems
Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its stake 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 purchasing an additional 6,900 shares during the period. Empowered Funds LLC boosted its position in China Automotive Systems by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 136,737 shares of the auto parts company's stock valued at $629,000 after buying an additional 6,968 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in China Automotive Systems by 14.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,102 shares of the auto parts company's stock valued at $401,000 after buying an additional 11,197 shares during the period. Finally, American Century Companies Inc. bought a new stake in China Automotive Systems in the 2nd quarter worth $36,000. 5.17% of the stock is currently owned by hedge funds and other institutional investors.
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.
Further Reading
Before you consider China Automotive Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and China Automotive Systems wasn't on the list.
While China Automotive Systems currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
