China Automotive Systems (NASDAQ:CAAS) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of China Automotive Systems (NASDAQ:CAAS - Free Report) in a report issued on Friday morning. The brokerage issued a hold rating on the auto parts company's stock.

China Automotive Systems Price Performance

Shares of NASDAQ:CAAS traded down $0.01 during trading on Friday, reaching $3.69. The company had a trading volume of 1,032 shares, compared to its average volume of 46,336. The stock's fifty day moving average price is $4.30 and its 200 day moving average price is $4.28. China Automotive Systems has a fifty-two week low of $3.34 and a fifty-two week high of $5.37. The firm has a market capitalization of $111.33 million, a price-to-earnings ratio of 3.51 and a beta of 2.33.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Bridgeway Capital Management LLC increased its stake in China Automotive Systems by 2.6% in 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 purchasing an additional 7,119 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in China Automotive Systems in the 4th quarter valued at about $86,000. Renaissance Technologies LLC raised its position in 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. Connor Clark & Lunn Investment Management Ltd. grew its position 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 purchasing an additional 19,484 shares during the last quarter. Finally, Empowered Funds LLC increased its stake 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 in the last quarter. 5.17% of the stock is owned by hedge funds and other institutional investors.

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.