China Automotive Systems (NASDAQ:CAAS) Now Covered by StockNews.com

Analysts at StockNews.com started coverage on shares of China Automotive Systems (NASDAQ:CAASGet Rating) in a research note issued on Sunday. The firm set a “buy” rating on the auto parts company’s stock.

Several other research firms have also commented on CAAS. Greenridge Global dropped their price objective on shares of China Automotive Systems from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, May 24th. TheStreet raised shares of China Automotive Systems from a “c” rating to a “b-” rating in a research note on Thursday, September 8th.

China Automotive Systems Trading Up 3.2 %

CAAS opened at $4.21 on Friday. The firm has a market cap of $129.09 million, a P/E ratio of 9.15 and a beta of 2.21. China Automotive Systems has a 12 month low of $2.20 and a 12 month high of $5.12. The stock has a 50-day moving average of $3.48 and a 200 day moving average of $3.07.

Institutional Investors Weigh In On China Automotive Systems

A hedge fund recently raised its stake in China Automotive Systems stock. Hanson & Doremus Investment Management grew its holdings in China Automotive Systems, Inc. (NASDAQ:CAASGet Rating) by 399.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,164 shares of the auto parts company’s stock after acquiring an additional 19,324 shares during the quarter. Hanson & Doremus Investment Management owned 0.08% of China Automotive Systems worth $74,000 at the end of the most recent reporting period. 2.57% of the stock is owned by hedge funds and other institutional investors.

About China Automotive Systems

(Get Rating)

China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China. 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 electronic and hydraulic power steering systems and parts.

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