China Automotive Systems, Inc. (NASDAQ:CAAS)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $3.57 and last traded at $3.57, with a volume of 6202 shares changing hands. The stock had previously closed at $3.59.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of China Automotive Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. ValuEngine raised shares of China Automotive Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, August 28th.
The company has a market cap of $116.45 million, a PE ratio of 5.59 and a beta of 1.67.
An institutional investor recently raised its position in China Automotive Systems stock. Hanson & Doremus Investment Management lifted its holdings in China Automotive Systems, Inc. (NASDAQ:CAAS) by 16.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,552 shares of the auto parts company’s stock after purchasing an additional 14,377 shares during the period. Hanson & Doremus Investment Management owned 0.32% of China Automotive Systems worth $434,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 3.72% of the company’s stock.
China Automotive Systems Company Profile (NASDAQ:CAAS)
China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China. The company 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 electronic systems and parts.
Further Reading: Are Wall Street analysts’ stock ratings worth following?
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