China Automotive Systems (NASDAQ:CAAS) Rating Increased to B- at TheStreet

TheStreet upgraded shares of China Automotive Systems (NASDAQ:CAASGet Rating) from a c rating to a b- rating in a report released on Thursday morning, TheStreetRatingsTable reports.

Other equities research analysts also recently issued research reports about the company. StockNews.com started coverage on China Automotive Systems in a report on Saturday. They issued a buy rating for the company. Greenridge Global cut their price target on China Automotive Systems from $7.00 to $6.00 and set a buy rating for the company in a report on Tuesday, May 24th.

China Automotive Systems Price Performance

Shares of China Automotive Systems stock opened at $4.18 on Thursday. The firm’s fifty day simple moving average is $3.29 and its 200-day simple moving average is $3.00. China Automotive Systems has a 12 month low of $2.20 and a 12 month high of $5.12. The stock has a market capitalization of $128.16 million, a price-to-earnings ratio of 9.09 and a beta of 2.21.

Hedge Funds Weigh In On China Automotive Systems

An institutional investor recently raised its position in China Automotive Systems stock. Hanson & Doremus Investment Management raised its stake in China Automotive Systems, Inc. (NASDAQ:CAASGet Rating) by 399.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 24,164 shares of the auto parts company’s stock after buying an additional 19,324 shares during the quarter. Hanson & Doremus Investment Management owned approximately 0.08% of China Automotive Systems worth $74,000 as of its most recent SEC filing. 2.57% of the stock is owned by hedge funds and other institutional investors.

China Automotive Systems Company Profile

(Get Rating)

China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China. 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 electronic and hydraulic power steering systems and parts.

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