China Automotive Systems (NASDAQ:CAAS) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of China Automotive Systems (NASDAQ:CAAS) from a hold rating to a buy rating in a report published on Monday.

China Automotive Systems Stock Down 1.7%

Shares of CAAS opened at $4.05 on Monday. The company has a market capitalization of $122.19 million, a price-to-earnings ratio of 3.86 and a beta of 2.61. China Automotive Systems has a 52 week low of $3.34 and a 52 week high of $5.37. The stock’s 50-day moving average price is $4.08 and its 200-day moving average price is $4.20.

China Automotive Systems (NASDAQ:CAAS) last posted its earnings results on Wednesday, May 14th. The auto parts company reported $0.24 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

Several institutional investors have recently bought and sold shares of CAAS. Empowered Funds LLC grew its stake in 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 valued at $590,000 after acquiring an additional 7,119 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings 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 worth $1,149,000 after purchasing an additional 7,119 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of China Automotive Systems in the first quarter valued at approximately $57,000. Renaissance Technologies LLC increased its holdings in shares of China Automotive Systems by 4.8% in the fourth quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company’s stock valued at $1,726,000 after purchasing an additional 19,100 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in China Automotive Systems by 22.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,586 shares of the auto parts company’s stock worth $437,000 after buying an additional 19,484 shares in the last quarter. 5.17% of the stock is owned by institutional investors and hedge funds.

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.