Begins Coverage on China Automotive Systems (NASDAQ:CAAS)

Research analysts at assumed coverage on shares of China Automotive Systems (NASDAQ:CAASGet Rating) in a research note issued on Sunday. The brokerage set a “buy” rating on the auto parts company’s stock.

CAAS has been the subject of several other research reports. TheStreet raised China Automotive Systems from a “c” rating to a “b-” rating in a report on Thursday, September 8th. Greenridge Global dropped their price target on China Automotive Systems from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, May 24th.

China Automotive Systems Trading Down 9.9 %

NASDAQ CAAS opened at $4.08 on Friday. The company has a market cap of $125.09 million, a PE ratio of 8.87 and a beta of 2.21. China Automotive Systems has a 12 month low of $2.20 and a 12 month high of $5.12. The stock has a 50 day moving average of $3.45 and a 200-day moving average of $3.05.

Institutional Investors Weigh In On China Automotive Systems

A hedge fund recently raised its stake in China Automotive Systems stock. Hanson & Doremus Investment Management grew its position in shares of China Automotive Systems, Inc. (NASDAQ:CAASGet Rating) by 399.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,164 shares of the auto parts company’s stock after buying an additional 19,324 shares during the period. Hanson & Doremus Investment Management owned approximately 0.08% of China Automotive Systems worth $74,000 at the end of the most recent quarter. 2.57% of the stock is owned by institutional investors.

About China Automotive Systems

(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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