China Automotive Systems (NASDAQ:CAAS) Research Coverage Started at StockNews.com

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

China Automotive Systems Trading Down 8.5 %

Shares of NASDAQ CAAS opened at $3.79 on Thursday. The company has a 50 day simple moving average of $4.39 and a two-hundred day simple moving average of $4.29. The stock has a market cap of $114.35 million, a price-to-earnings ratio of 3.61 and a beta of 2.33. China Automotive Systems has a 12 month low of $3.34 and a 12 month high of $5.37.

China Automotive Systems (NASDAQ:CAAS) last announced its earnings results on Friday, March 28th. The auto parts company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.14. The company had revenue of $188.70 million during the quarter, compared to analyst estimates of $147.52 million. China Automotive Systems had a net margin of 5.12% and a return on equity of 8.22%.

Institutional Investors Weigh In On China Automotive Systems

Institutional investors and hedge funds have recently modified their holdings of the company. Two Sigma Securities LLC purchased a new stake in China Automotive Systems during the fourth quarter worth about $86,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of 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 worth $437,000 after purchasing an additional 19,484 shares during the last quarter. Empowered Funds LLC lifted its holdings 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 worth $590,000 after buying an additional 7,119 shares during the last quarter. Bridgeway Capital Management LLC lifted 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 purchasing an additional 7,119 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of China Automotive Systems by 4.8% in the 4th quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company’s stock valued at $1,726,000 after buying an additional 19,100 shares in the last quarter. Hedge funds and other institutional investors own 5.17% of the company’s stock.

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.