China Automotive Systems (NASDAQ:CAAS - Get Free Report) announced its quarterly earnings data on Thursday. The auto parts company reported $0.36 EPS for the quarter, RTT News reports. The firm had revenue of $159.16 million for the quarter. China Automotive Systems had a return on equity of 9.22% and a net margin of 5.69%. China Automotive Systems updated its FY 2024 guidance to EPS.
China Automotive Systems Stock Performance
Shares of CAAS traded up $0.18 on Friday, reaching $3.55. The stock had a trading volume of 129,699 shares, compared to its average volume of 29,197. China Automotive Systems has a 12-month low of $3.04 and a 12-month high of $6.09. The firm has a market capitalization of $107.17 million, a price-to-earnings ratio of 3.45 and a beta of 2.44. The company has a 50-day simple moving average of $3.38 and a 200-day simple moving average of $3.42.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new stake in China Automotive Systems during the fourth quarter valued at $31,000. Zacks Investment Management bought a new position in shares of China Automotive Systems in the second quarter worth about $49,000. American Century Companies Inc. bought a new position in shares of China Automotive Systems in the first quarter worth about $50,000. Tower Research Capital LLC TRC bought a new position in shares of China Automotive Systems in the first quarter worth about $54,000. Finally, XTX Topco Ltd bought a new position in shares of China Automotive Systems in the first quarter worth about $63,000. Institutional investors own 5.17% of the company's stock.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded China Automotive Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday.
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China Automotive Systems Company Profile
(
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China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China 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 electronic and hydraulic power steering systems and parts.
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