China Automotive Systems (NASDAQ:CAAS) Upgraded at StockNews.com

China Automotive Systems (NASDAQ:CAAS) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

China Automotive Systems Trading Down 1.7%

NASDAQ:CAAS traded down $0.07 on Monday, reaching $4.05. 18,353 shares of the stock traded hands, compared to its average volume of 55,404. The company’s fifty day simple moving average is $4.08 and its 200 day simple moving average is $4.20. The company has a market capitalization of $122.19 million, a price-to-earnings ratio of 3.86 and a beta of 2.61. China Automotive Systems has a 12 month low of $3.34 and a 12 month high of $5.37.

China Automotive Systems (NASDAQ:CAAS) last released its quarterly earnings data on Wednesday, May 14th. The auto parts company reported $0.24 earnings per share (EPS) for the quarter. China Automotive Systems had a net margin of 5.12% and a return on equity of 8.22%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its position in China Automotive Systems by 4.8% in the 4th quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company’s stock valued at $1,726,000 after acquiring an additional 19,100 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of China Automotive Systems by 2.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 280,206 shares of the auto parts company’s stock valued at $1,149,000 after acquiring an additional 7,119 shares during the period. Empowered Funds LLC raised its stake in shares of China Automotive Systems by 8.6% during the first quarter. Empowered Funds LLC now owns 156,258 shares of the auto parts company’s stock worth $691,000 after purchasing an additional 12,402 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of China Automotive Systems by 18.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 126,280 shares of the auto parts company’s stock worth $558,000 after purchasing an additional 19,694 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new position in China Automotive Systems in the fourth quarter worth $86,000. Hedge funds and other institutional investors own 5.17% 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 United States, and internationally. It 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 electronics and systems and parts.