China Automotive Systems (NASDAQ:CAAS) Coverage Initiated by Analysts at StockNews.com

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

China Automotive Systems Price Performance

CAAS stock opened at $4.64 on Tuesday. China Automotive Systems has a 1-year low of $3.25 and a 1-year high of $4.97. The company has a market capitalization of $140.06 million, a price-to-earnings ratio of 4.42 and a beta of 2.27. The business has a 50 day simple moving average of $4.24 and a two-hundred day simple moving average of $4.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its position in shares of 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 acquiring an additional 6,968 shares during the last quarter. Bridgeway Capital Management LLC boosted its position 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 valued at $1,149,000 after acquiring an additional 7,119 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position 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 valued at $401,000 after acquiring an additional 11,197 shares during the last quarter. Renaissance Technologies LLC boosted 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 last quarter. Finally, Two Sigma Securities LLC bought a new position in shares of China Automotive Systems during the 4th quarter valued at approximately $86,000. 5.17% of the stock is currently owned by institutional investors.

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.