ValuEngine lowered shares of China Automotive Systems (NASDAQ:CAAS) from a sell rating to a strong sell rating in a research note published on Saturday.
Several other brokerages have also recently issued reports on CAAS. Zacks Investment Research cut China Automotive Systems from a hold rating to a sell rating in a research note on Wednesday, August 22nd. TheStreet cut China Automotive Systems from a c- rating to a d+ rating in a research note on Friday, October 19th.
Shares of CAAS opened at $2.17 on Friday. China Automotive Systems has a 12-month low of $2.16 and a 12-month high of $5.23. The firm has a market cap of $71.31 million, a P/E ratio of 3.39 and a beta of 1.96.
An institutional investor recently raised its position in China Automotive Systems stock. Hanson & Doremus Investment Management increased its position in shares of China Automotive Systems, Inc. (NASDAQ:CAAS) by 16.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,552 shares of the auto parts company’s stock after purchasing an additional 14,377 shares during the quarter. Hanson & Doremus Investment Management owned 0.32% of China Automotive Systems worth $434,000 at the end of the most recent reporting period. 3.66% of the stock is currently owned by institutional investors and hedge funds.
China Automotive Systems Company Profile
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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To view ValuEngine’s full report, visit ValuEngine’s official website.
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