Separately, Zacks Investment Research upgraded shares of China Automotive Systems from a hold rating to a buy rating and set a $2.75 target price for the company in a report on Wednesday, July 10th.
NASDAQ:CAAS traded down $0.07 during mid-day trading on Thursday, hitting $2.18. 16,538 shares of the company’s stock traded hands, compared to its average volume of 11,632. The business has a 50 day simple moving average of $2.27. China Automotive Systems has a 1 year low of $2.00 and a 1 year high of $5.00. The stock has a market capitalization of $70.50 million, a P/E ratio of 27.25 and a beta of 1.54.
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 company 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 systems and parts.
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