China Automotive Systems (NASDAQ:CAAS) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of China Automotive Systems (NASDAQ:CAAS) in a report released on Wednesday morning. The firm issued a buy rating on the auto parts company’s stock.

China Automotive Systems Price Performance

Shares of CAAS stock opened at $4.82 on Wednesday. The stock’s fifty day simple moving average is $4.33 and its 200 day simple moving average is $4.24. China Automotive Systems has a one year low of $3.25 and a one year high of $4.97. The firm has a market cap of $145.50 million, a price-to-earnings ratio of 4.59 and a beta of 2.27.

Hedge Funds Weigh In On China Automotive Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAAS. Two Sigma Securities LLC acquired a new stake in shares of China Automotive Systems during the fourth quarter worth approximately $86,000. Connor Clark & Lunn Investment Management Ltd. increased its position in 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 valued at $437,000 after acquiring an additional 19,484 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of 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 acquiring an additional 19,100 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in shares of China Automotive Systems by 2.6% during the fourth 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. Finally, Empowered Funds LLC grew its stake in shares of China Automotive Systems by 5.2% during the fourth quarter. Empowered Funds LLC now owns 143,856 shares of the auto parts company’s stock valued at $590,000 after purchasing an additional 7,119 shares during the last quarter. 5.17% of the stock is currently owned by institutional investors and hedge funds.

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.