China Automotive Systems (NASDAQ:CAAS) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of China Automotive Systems (NASDAQ:CAAS) in a research report report published on Wednesday. The brokerage issued a buy rating on the auto parts company’s stock.

China Automotive Systems Trading Down 9.1 %

Shares of CAAS stock opened at $4.78 on Wednesday. China Automotive Systems has a 1-year low of $3.34 and a 1-year high of $5.37. The stock has a market cap of $144.29 million, a price-to-earnings ratio of 4.55 and a beta of 2.27. The stock has a 50-day moving average of $4.37 and a 200-day moving average of $4.26.

China Automotive Systems (NASDAQ:CAAS) last released its earnings results on Friday, March 28th. The auto parts company reported $0.30 earnings per share for the quarter. China Automotive Systems had a net margin of 5.12% and a return on equity of 8.22%.

Institutional Trading of China Automotive Systems

Institutional investors have recently bought and sold shares of the company. Two Sigma Securities LLC acquired a new position in shares of China Automotive Systems in the 4th quarter valued at about $86,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of 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 worth $401,000 after buying an additional 11,197 shares in the last quarter. Empowered Funds LLC grew 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 buying an additional 7,119 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of China Automotive Systems by 2.6% in the 4th quarter. Bridgeway Capital Management LLC now owns 280,206 shares of the auto parts company’s stock valued at $1,149,000 after acquiring an additional 7,119 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of China Automotive Systems by 4.8% during the 4th quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company’s stock valued at $1,726,000 after acquiring an additional 19,100 shares during the period. Institutional investors own 5.17% of the company’s stock.

About China Automotive Systems

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.