China Automotive Systems, Inc. (NASDAQ:CAAS) reached a new 52-week low during trading on Monday . The stock traded as low as $2.45 and last traded at $2.45, with a volume of 20693 shares changing hands. The stock had previously closed at $2.60.
CAAS has been the subject of several recent research reports. ValuEngine downgraded China Automotive Systems from a “buy” rating to a “hold” rating in a report on Tuesday, September 18th. TheStreet downgraded China Automotive Systems from a “c-” rating to a “d+” rating in a report on Friday, October 19th. Finally, Zacks Investment Research downgraded China Automotive Systems from a “hold” rating to a “sell” rating in a report on Wednesday, August 22nd.
The stock has a market cap of $84.08 million, a PE ratio of 3.91 and a beta of 1.96.
An institutional investor recently raised its position in China Automotive Systems stock. Hanson & Doremus Investment Management lifted its stake in shares of China Automotive Systems, Inc. (NASDAQ:CAAS) by 16.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,552 shares of the auto parts company’s stock after buying an additional 14,377 shares during the period. Hanson & Doremus Investment Management owned about 0.32% of China Automotive Systems worth $434,000 at the end of the most recent quarter. Institutional investors own 3.66% of the company’s stock.
China Automotive Systems Company Profile (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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