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

Research analysts at StockNews.com initiated coverage on shares of China Automotive Systems (NASDAQ:CAAS) in a note issued to investors on Wednesday. The brokerage set a “buy” rating on the auto parts company’s stock.

China Automotive Systems Price Performance

China Automotive Systems stock opened at $4.73 on Wednesday. China Automotive Systems has a 52-week low of $3.25 and a 52-week high of $4.97. The stock has a fifty day moving average price of $4.31 and a two-hundred day moving average price of $4.24. The firm has a market capitalization of $142.78 million, a P/E ratio of 4.50 and a beta of 2.27.

Hedge Funds Weigh In On China Automotive Systems

Several institutional investors have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC grew its stake in China Automotive Systems by 2.6% during the fourth 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 during the last quarter. Two Sigma Securities LLC acquired a new position in shares of China Automotive Systems in the 4th quarter worth approximately $86,000. Renaissance Technologies LLC grew its position in 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 worth $1,726,000 after acquiring an additional 19,100 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in China Automotive Systems by 22.4% during the 4th 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 in the last quarter. Finally, Empowered Funds LLC raised its position in China Automotive Systems by 5.2% in the 4th quarter. Empowered Funds LLC now owns 143,856 shares of the auto parts company’s stock valued at $590,000 after purchasing an additional 7,119 shares during the last quarter. 5.17% of the stock is 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.