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

Analysts at StockNews.com initiated coverage on shares of China Automotive Systems (NASDAQ:CAAS) in a research note issued on Wednesday. The brokerage set a “buy” rating on the auto parts company’s stock.

China Automotive Systems Stock Up 9.1 %

Shares of China Automotive Systems stock opened at $5.26 on Wednesday. The business has a 50-day moving average price of $4.36 and a 200 day moving average price of $4.25. China Automotive Systems has a fifty-two week low of $3.34 and a fifty-two week high of $5.28. The firm has a market cap of $158.78 million, a P/E ratio of 5.01 and a beta of 2.27.

Institutional Trading of China Automotive Systems

Several institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC raised its position in shares of 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 purchasing an additional 7,119 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in 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 worth $437,000 after buying an additional 19,484 shares during the period. Bridgeway Capital Management LLC lifted its stake 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 buying an additional 7,119 shares during the last quarter. Two Sigma Securities LLC acquired a new position in shares of China Automotive Systems during the fourth quarter valued at $86,000. Finally, Renaissance Technologies LLC grew its position 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 worth $1,726,000 after acquiring an additional 19,100 shares during the last quarter. Institutional investors 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.