China Automotive Systems (NASDAQ:CAAS) Downgraded to Hold at ValuEngine
ValuEngine cut shares of China Automotive Systems (NASDAQ:CAAS) from a buy rating to a hold rating in a report published on Tuesday, September 18th.
Separately, Zacks Investment Research downgraded shares of China Automotive Systems from a hold rating to a sell rating in a report on Wednesday, August 22nd.
NASDAQ:CAAS traded down $0.09 during trading hours on Tuesday, hitting $3.22. The stock had a trading volume of 1,508 shares, compared to its average volume of 24,439. China Automotive Systems has a one year low of $3.26 and a one year high of $5.38. The company has a market cap of $111.70 million, a price-to-earnings ratio of 5.03 and a beta of 1.65.
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% in the second quarter, according to its most recent filing with the SEC. The fund owned 100,552 shares of the auto parts company’s stock after acquiring 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 SEC filing. Institutional investors and hedge funds own 3.72% 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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