China Automotive Systems (CAAS) Hits New 12-Month Low at $3.57
China Automotive Systems, Inc. (NASDAQ:CAAS) shares reached a new 52-week low on Wednesday . The company traded as low as $3.57 and last traded at $3.57, with a volume of 6202 shares traded. The stock had previously closed at $3.59.
A number of research analysts have 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 lowered shares of China Automotive Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, August 22nd.
The stock has a market cap of $116.45 million, a P/E ratio of 5.59 and a beta of 1.67.
A hedge fund recently raised its stake in China Automotive Systems stock. Hanson & Doremus Investment Management grew its stake in shares of China Automotive Systems, Inc. (NASDAQ:CAAS) by 16.7% in the second quarter, according to its most recent disclosure with the SEC. 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 approximately 0.32% of China Automotive Systems worth $434,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 3.72% of the company’s stock.
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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