China Automotive Systems (NASDAQ:CAAS) Releases Quarterly Earnings Results

China Automotive Systems (NASDAQ:CAAS) posted its quarterly earnings data on Wednesday. The auto parts company reported $0.32 earnings per share for the quarter, Zacks reports. China Automotive Systems had a return on equity of 7.39% and a net margin of 4.22%.

China Automotive Systems Stock Performance

CAAS traded up $0.23 during trading on Wednesday, reaching $4.40. The stock had a trading volume of 507,268 shares, compared to its average volume of 42,023. The stock has a market cap of $132.60 million, a PE ratio of 4.53 and a beta of 2.78. China Automotive Systems has a one year low of $3.50 and a one year high of $5.37. The business has a 50-day moving average of $4.49 and a 200-day moving average of $4.26.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of China Automotive Systems in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Institutional Investors Weigh In On China Automotive Systems

An institutional investor recently raised its position in China Automotive Systems stock. Bridgeway Capital Management LLC lifted its position in China Automotive Systems, Inc. (NASDAQ:CAAS) by 2.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 301,155 shares of the auto parts company’s stock after acquiring an additional 8,547 shares during the period. Bridgeway Capital Management LLC owned 1.00% of China Automotive Systems worth $1,229,000 as of its most recent SEC filing. 5.17% of the stock is currently owned by 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.