China Automotive Systems Inc. (CAAS) Shares Up 4.5%
China Automotive Systems Inc. (NASDAQ:CAAS)’s share price shot up 4.5% during trading on Monday . The company traded as high as $3.64 and last traded at $3.50, with a volume of 64,848 shares trading hands. The stock had previously closed at $3.35.
Separately, Zacks Investment Research lowered shares of China Automotive Systems from a “hold” rating to a “sell” rating in a research report on Monday, April 4th.
The company’s 50-day moving average price is $3.65 and its 200-day moving average price is $4.09. The stock has a market capitalization of $112.10 million and a P/E ratio of 4.56.
China Automotive Systems (NASDAQ:CAAS) last announced its quarterly earnings results on Thursday, May 12th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.04. The company had revenue of $116.90 million for the quarter, compared to the consensus estimate of $121.76 million. During the same quarter last year, the firm posted $0.26 EPS. Equities research analysts predict that China Automotive Systems Inc. will post $0.79 EPS for the current fiscal year.
A hedge fund recently raised its stake in China Automotive Systems stock. Seizert Capital Partners LLC boosted its position in China Automotive Systems Inc. (NASDAQ:CAAS) by 73.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 518,458 shares of the company’s stock after buying an additional 218,716 shares during the period. Seizert Capital Partners LLC owned about 1.61% of China Automotive Systems worth $2,374,000 at the end of the most recent quarter.
China Automotive Systems, Inc, (China Automotive) is a holding company. The Company, through its subsidiary, Great Genesis Holdings Limited (Genesis), owns interests in over eight Sino-joint ventures and over five subsidiaries in the People’s Republic of China (PRC), which manufacture power steering systems and/or related products for various segments of the automobile industry.
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