Shares of China Automotive Systems, Inc. (NASDAQ:CAAS) saw strong trading volume on Monday . 827,702 shares were traded during trading, an increase of 1,958% from the previous session’s volume of 40,228 shares.The stock last traded at $3.85 and had previously closed at $3.18.
A number of equities analysts recently weighed in on the stock. ValuEngine downgraded shares of China Automotive Systems from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Zacks Investment Research downgraded shares of China Automotive Systems from a “buy” rating to a “hold” rating in a report on Thursday, November 14th.
The firm’s 50 day moving average price is $2.39 and its two-hundred day moving average price is $2.21. 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 stock has a market cap of $99.86 million, a PE ratio of 51.13 and a beta of 1.83.
An institutional investor recently raised its position in China Automotive Systems stock. Renaissance Technologies LLC boosted its stake in China Automotive Systems, Inc. (NASDAQ:CAAS) by 6.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 346,124 shares of the auto parts company’s stock after purchasing an additional 20,433 shares during the quarter. Renaissance Technologies LLC owned about 1.07% of China Automotive Systems worth $827,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 2.39% 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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