China Automotive Systems (NASDAQ:CAAS) Coverage Initiated at StockNews.com

Analysts at StockNews.com assumed coverage on shares of China Automotive Systems (NASDAQ:CAASGet Rating) in a note issued to investors on Monday. The brokerage set a “buy” rating on the auto parts company’s stock.

Separately, Greenridge Global lowered their target price on China Automotive Systems from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, May 24th.

China Automotive Systems Trading Down 0.7 %

Shares of CAAS stock opened at $2.82 on Monday. China Automotive Systems has a 12-month low of $2.20 and a 12-month high of $4.38. The stock has a market capitalization of $87.00 million, a P/E ratio of 11.28 and a beta of 2.50. The firm’s 50 day moving average is $2.81 and its 200 day moving average is $2.80.

Institutional Investors Weigh In On China Automotive Systems

A hedge fund recently raised its stake in China Automotive Systems stock. Hanson & Doremus Investment Management raised its stake in shares of China Automotive Systems, Inc. (NASDAQ:CAASGet Rating) by 399.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 24,164 shares of the auto parts company’s stock after purchasing an additional 19,324 shares during the period. Hanson & Doremus Investment Management owned 0.08% of China Automotive Systems worth $74,000 as of its most recent SEC filing. 3.38% of the stock is currently 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.

Featured Stories

Receive News & Ratings for China Automotive Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for China Automotive Systems and related companies with MarketBeat.com's FREE daily email newsletter.