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

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

China Automotive Systems Stock Down 2.6 %

Shares of China Automotive Systems stock opened at $4.52 on Tuesday. China Automotive Systems has a 12 month low of $3.25 and a 12 month high of $4.97. The stock has a market cap of $136.44 million, a PE ratio of 4.30 and a beta of 2.27. The business has a fifty day simple moving average of $4.25 and a 200-day simple moving average of $4.21.

Hedge Funds Weigh In On China Automotive Systems

Several institutional investors and hedge funds have recently bought and sold shares of CAAS. Empowered Funds LLC boosted its holdings 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 worth $590,000 after purchasing an additional 7,119 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in China Automotive Systems by 14.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,102 shares of the auto parts company’s stock worth $401,000 after buying an additional 11,197 shares in the last quarter. Bridgeway Capital Management LLC lifted its position 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 worth $1,149,000 after buying an additional 7,119 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in shares of China Automotive Systems during the 4th quarter valued at $86,000. Finally, Renaissance Technologies LLC grew its holdings in shares of China Automotive Systems by 4.8% during the 4th 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 in the last quarter. Hedge funds and other 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.