StockNews.com Initiates Coverage on China Automotive Systems (NASDAQ:CAAS)

StockNews.com assumed coverage on shares of China Automotive Systems (NASDAQ:CAAS) in a research report issued to clients and investors on Tuesday. The brokerage set a “buy” rating on the auto parts company’s stock.

China Automotive Systems Stock Performance

Shares of NASDAQ CAAS opened at $4.52 on Tuesday. China Automotive Systems has a 1 year low of $3.25 and a 1 year high of $4.97. The firm has a market cap of $136.44 million, a P/E ratio of 4.30 and a beta of 2.27. The stock has a fifty day moving average price of $4.25 and a two-hundred day moving average price of $4.21.

Institutional Investors Weigh In On China Automotive Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bridgeway Capital Management LLC raised 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. Two Sigma Securities LLC acquired a new position in China Automotive Systems in the fourth quarter worth approximately $86,000. Renaissance Technologies LLC grew its position in China Automotive Systems by 4.8% in the fourth quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company’s stock worth $1,726,000 after buying an additional 19,100 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of China Automotive Systems by 22.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,586 shares of the auto parts company’s stock valued at $437,000 after buying an additional 19,484 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of China Automotive Systems by 5.2% during the 4th quarter. Empowered Funds LLC now owns 143,856 shares of the auto parts company’s stock valued at $590,000 after acquiring an additional 7,119 shares during the last quarter. 5.17% of the stock is owned by institutional investors and hedge funds.

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.