China Automotive Systems (NASDAQ:CAAS) Upgraded at StockNews.com

China Automotive Systems (NASDAQ:CAAS) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

China Automotive Systems Stock Performance

Shares of NASDAQ:CAAS traded down $0.07 during trading on Monday, hitting $4.05. 18,353 shares of the stock were exchanged, compared to its average volume of 55,404. The company has a market capitalization of $122.19 million, a price-to-earnings ratio of 3.86 and a beta of 2.61. China Automotive Systems has a 1-year low of $3.34 and a 1-year high of $5.37. The company’s fifty day simple moving average is $4.08 and its 200-day simple moving average is $4.20.

China Automotive Systems (NASDAQ:CAAS) last posted its quarterly earnings data on Wednesday, May 14th. The auto parts company reported $0.24 earnings per share (EPS) for the quarter. China Automotive Systems had a return on equity of 8.22% and a net margin of 5.12%.

Institutional Investors Weigh In On China Automotive Systems

Several institutional investors and hedge funds have recently bought and sold shares of CAAS. Virtu Financial LLC acquired a new position in shares of China Automotive Systems in the first quarter valued at approximately $57,000. Two Sigma Securities LLC acquired a new stake in shares of China Automotive Systems during the 4th quarter worth approximately $86,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of China Automotive Systems by 22.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,586 shares of the auto parts company’s stock worth $437,000 after purchasing an additional 19,484 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of China Automotive Systems by 5.2% in the 4th 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 in the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 7,119 shares in the last quarter. Institutional investors own 5.17% of the company’s stock.

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 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.