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 released on Tuesday. The brokerage issued a buy rating on the auto parts company’s stock.

China Automotive Systems Price Performance

Shares of CAAS stock opened at $4.64 on Tuesday. The business’s fifty day moving average price is $4.27 and its 200 day moving average price is $4.21. China Automotive Systems has a 1-year low of $3.25 and a 1-year high of $4.97. The firm has a market capitalization of $140.06 million, a PE ratio of 4.42 and a beta of 2.27.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Empowered Funds LLC grew its holdings in China Automotive Systems by 5.4% in the third quarter. Empowered Funds LLC now owns 136,737 shares of the auto parts company’s stock valued at $629,000 after purchasing an additional 6,968 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in China Automotive Systems by 14.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,102 shares of the auto parts company’s stock valued at $401,000 after purchasing an additional 11,197 shares during the last quarter. Renaissance Technologies LLC grew its holdings in 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. Two Sigma Securities LLC acquired a new stake in China Automotive Systems in the fourth quarter valued at $86,000. Finally, Bridgeway Capital Management LLC grew its holdings in China Automotive Systems by 2.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 280,206 shares of the auto parts company’s stock valued at $1,149,000 after purchasing an additional 7,119 shares during the last quarter. Institutional investors and hedge funds own 5.17% of the company’s stock.

China Automotive Systems Company Profile

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.