StockNews.com Begins Coverage on China Automotive Systems (NASDAQ:CAAS)

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

China Automotive Systems Stock Up 2.7 %

CAAS opened at $4.64 on Tuesday. The firm has a market cap of $140.06 million, a P/E ratio of 4.42 and a beta of 2.27. China Automotive Systems has a 52 week low of $3.25 and a 52 week high of $4.97. The business’s fifty day simple moving average is $4.27 and its 200 day simple moving average is $4.21.

Institutional Trading of China Automotive Systems

A number of large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in shares of China Automotive Systems by 4.8% during the fourth quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company’s stock valued at $1,726,000 after acquiring an additional 19,100 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of 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 valued at $1,149,000 after acquiring an additional 7,119 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of China Automotive Systems by 5.2% during the fourth 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of 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 valued at $437,000 after acquiring an additional 19,484 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new stake in shares of China Automotive Systems during the fourth quarter valued at $86,000. Institutional investors and hedge funds 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.