China Automotive Systems (NASDAQ:CAAS) Posts Quarterly Earnings Results, Beats Expectations By $0.54 EPS

China Automotive Systems (NASDAQ:CAAS) released its earnings results on Wednesday. The auto parts company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.54, Zacks reports. China Automotive Systems had a return on equity of 8.38% and a net margin of 4.62%.The firm had revenue of $229.19 million during the quarter, compared to analysts’ expectations of $118.18 million.

China Automotive Systems Trading Up 5.8%

Shares of CAAS stock opened at $4.53 on Thursday. The firm’s fifty day moving average price is $4.29 and its two-hundred day moving average price is $4.33. China Automotive Systems has a 1 year low of $3.77 and a 1 year high of $5.15. The firm has a market capitalization of $136.67 million, a P/E ratio of 4.08 and a beta of 1.04.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of China Automotive Systems in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Institutional Trading of China Automotive Systems

Several institutional investors and hedge funds have recently bought and sold shares of CAAS. XTX Topco Ltd bought a new stake in shares of China Automotive Systems during the 4th quarter worth approximately $47,000. Citadel Advisors LLC bought a new position in shares of China Automotive Systems in the 3rd quarter valued at about $213,000. Virtu Financial LLC acquired a new position in shares of China Automotive Systems during the 3rd quarter worth about $86,000. Bridgeway Capital Management LLC increased its stake in shares of China Automotive Systems by 2.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 301,155 shares of the auto parts company’s stock worth $1,229,000 after purchasing an additional 8,547 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of China Automotive Systems by 8.6% in the 1st quarter. Empowered Funds LLC now owns 156,258 shares of the auto parts company’s stock valued at $691,000 after purchasing an additional 12,402 shares during the period. Institutional investors own 5.17% of the company’s stock.

About China Automotive Systems

China Automotive Systems, Inc (NASDAQ: CAAS) is a leading designer, manufacturer and marketer of power steering systems and related components primarily for the automotive industry in China. The company’s core business centers on hydraulic and electric power steering products, steering columns, steering gearboxes and electronic control units. By integrating research and development, manufacturing and sales, China Automotive Systems aims to deliver high-quality steering solutions that meet the performance and safety requirements of global automakers.

The company’s product portfolio includes traditional hydraulic power steering systems, which have long been favored for their reliability, as well as advanced electric power steering units that offer improved fuel efficiency and enhanced vehicle control.