China Automotive Systems (NASDAQ:CAAS) Upgraded to “Strong-Buy” by StockNews.com

StockNews.com upgraded shares of China Automotive Systems (NASDAQ:CAAS) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.

China Automotive Systems Stock Up 5.2 %

Shares of NASDAQ CAAS opened at $3.67 on Friday. The firm’s 50-day moving average price is $3.55 and its 200-day moving average price is $3.44. China Automotive Systems has a 52-week low of $3.04 and a 52-week high of $5.73. The company has a market cap of $110.78 million, a PE ratio of 2.84 and a beta of 2.47.

China Automotive Systems (NASDAQ:CAAS) last issued its earnings results on Tuesday, May 14th. The auto parts company reported $0.27 earnings per share (EPS) for the quarter. The company had revenue of $139.39 million for the quarter. China Automotive Systems had a net margin of 6.82% and a return on equity of 10.84%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. WINTON GROUP Ltd grew its stake in shares of China Automotive Systems by 78.9% during the 3rd quarter. WINTON GROUP Ltd now owns 43,600 shares of the auto parts company’s stock valued at $170,000 after purchasing an additional 19,231 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in China Automotive Systems by 32.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,261 shares of the auto parts company’s stock valued at $184,000 after buying an additional 11,655 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in China Automotive Systems by 8.2% during the first quarter. Empowered Funds LLC now owns 120,409 shares of the auto parts company’s stock valued at $427,000 after buying an additional 9,100 shares during the last quarter. 5.17% of the stock is owned by hedge funds and other institutional investors.

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.