China Automotive Systems (NASDAQ:CAAS) Stock Jumps 0.2% – Still a Buy?

China Automotive Systems, Inc. (NASDAQ:CAAS) shares rose 0.2% during mid-day trading on Friday. The company traded as high as $4.16 and last traded at $4.14. Approximately 11,690 shares traded hands during trading, a decline of 23% from the average daily volume of 15,108 shares. The stock had previously closed at $4.13.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded China Automotive Systems from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, September 28th. One investment analyst has rated the stock with a Buy rating. According to MarketBeat.com, China Automotive Systems presently has an average rating of “Buy”.

China Automotive Systems Stock Performance

The company has a market cap of $124.90 million, a price-to-earnings ratio of 2.92 and a beta of 1.07. The company’s 50 day moving average price is $4.77 and its 200-day moving average price is $4.53.

China Automotive Systems (NASDAQ:CAAS) last issued its earnings results on Thursday, August 13th. The auto parts company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.42. The firm had revenue of $206.23 million during the quarter, compared to analyst estimates of $118.18 million.

About China Automotive Systems

China Automotive Systems, Inc (NASDAQ: CAAS) develops and manufactures automotive steering systems and components. Its products include hydraulic power steering systems, electric power steering systems, steering gears, steering columns, power steering pumps and related components.

The company supplies vehicle manufacturers and other automotive customers, primarily in China, and serves international markets through its export and global customer activities. Its products are used in passenger vehicles, commercial vehicles and other automotive applications.

China Automotive Systems was established in 2003 and is headquartered in Jingzhou, Hubei Province, China.