China Automotive Systems (NASDAQ:CAAS) Issues Quarterly Earnings Results

China Automotive Systems (NASDAQ:CAAS) released its earnings results on Wednesday. The auto parts company reported $0.32 earnings per share for the quarter, Zacks reports. China Automotive Systems had a return on equity of 7.39% and a net margin of 4.22%.

China Automotive Systems Stock Performance

Shares of NASDAQ:CAAS traded up $0.23 during mid-day trading on Wednesday, reaching $4.40. 507,268 shares of the company’s stock were exchanged, compared to its average volume of 42,023. China Automotive Systems has a twelve month low of $3.50 and a twelve month high of $5.37. The firm has a market capitalization of $132.60 million, a price-to-earnings ratio of 4.53 and a beta of 2.78. The business’s fifty day moving average price is $4.49 and its 200-day moving average price is $4.26.

Institutional Investors Weigh In On China Automotive Systems

An institutional investor recently raised its position in China Automotive Systems stock. Bridgeway Capital Management LLC lifted its stake in shares of China Automotive Systems, Inc. (NASDAQ:CAAS) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 301,155 shares of the auto parts company’s stock after acquiring an additional 8,547 shares during the quarter. Bridgeway Capital Management LLC owned approximately 1.00% of China Automotive Systems worth $1,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 5.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of China Automotive Systems in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, China Automotive Systems presently has an average rating of “Hold”.

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.