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

StockNews.com assumed coverage on shares of China Automotive Systems (NASDAQ:CAAS) in a research report sent to investors on Friday. The brokerage issued a hold rating on the auto parts company’s stock.

China Automotive Systems Stock Performance

NASDAQ:CAAS opened at $3.57 on Friday. The stock has a 50 day simple moving average of $4.32 and a 200 day simple moving average of $4.28. The stock has a market cap of $107.71 million, a P/E ratio of 3.40 and a beta of 2.33. China Automotive Systems has a 1-year low of $3.34 and a 1-year high of $5.37.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of China Automotive Systems by 22.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,586 shares of the auto parts company’s stock valued at $437,000 after buying an additional 19,484 shares during the period. Empowered Funds LLC raised its holdings 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 acquiring an additional 7,119 shares in the last quarter. Bridgeway Capital Management LLC lifted 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 period. Two Sigma Securities LLC acquired a new stake in shares of China Automotive Systems during the 4th quarter worth $86,000. Finally, Renaissance Technologies LLC increased its position 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 worth $1,726,000 after purchasing an additional 19,100 shares during the period. 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.