Separately, Zacks Investment Research lowered shares of China Automotive Systems from a strong-buy rating to a hold rating in a research report on Tuesday.
Shares of China Automotive Systems stock traded up $0.06 during trading hours on Wednesday, hitting $3.25. 12,328 shares of the company’s stock traded hands, compared to its average volume of 81,350. The stock has a market capitalization of $100.18 million, a price-to-earnings ratio of 40.63 and a beta of 1.82. China Automotive Systems has a 12-month low of $1.70 and a 12-month high of $5.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.50 and a quick ratio of 1.21. The company has a fifty day simple moving average of $3.33 and a 200-day simple moving average of $2.43.
An institutional investor recently raised its position in China Automotive Systems stock. Renaissance Technologies LLC boosted its position in China Automotive Systems, Inc. (NASDAQ:CAAS) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 346,124 shares of the auto parts company’s stock after purchasing an additional 20,433 shares during the period. Renaissance Technologies LLC owned about 1.07% of China Automotive Systems worth $827,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 2.39% of the company’s stock.
About China Automotive Systems
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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