China Automotive Systems (CAAS) Hits New 12-Month Low at $2.06
China Automotive Systems, Inc. (NASDAQ:CAAS) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $2.06 and last traded at $2.15, with a volume of 5900 shares changing hands. The stock had previously closed at $2.17.
A number of research analysts recently commented on CAAS shares. ValuEngine raised shares of China Automotive Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. Zacks Investment Research cut shares of China Automotive Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, August 22nd. Finally, TheStreet cut shares of China Automotive Systems from a “c-” rating to a “d+” rating in a research note on Friday, October 19th.
The company has a market capitalization of $71.31 million, a price-to-earnings ratio of 3.13 and a beta of 1.96.
A hedge fund recently raised its stake in China Automotive Systems stock. Hanson & Doremus Investment Management increased its holdings in shares of China Automotive Systems, Inc. (NASDAQ:CAAS) by 16.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing. 3.66% of the stock is currently owned by hedge funds and other institutional investors.
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About China Automotive Systems (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.
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