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

China Automotive Systems (NASDAQ:CAAS) announced its quarterly earnings results on Wednesday. The auto parts company reported $0.32 earnings per share (EPS) 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 Price Performance

CAAS stock traded down $0.10 during trading on Thursday, reaching $4.35. 46,339 shares of the stock traded hands, compared to its average volume of 42,181. The firm has a market capitalization of $131.24 million, a PE ratio of 4.47 and a beta of 2.78. The business’s 50 day moving average price is $4.49 and its 200-day moving average price is $4.26. China Automotive Systems has a 52-week low of $3.50 and a 52-week high of $5.37.

Institutional Inflows and Outflows

An institutional investor recently raised its position in China Automotive Systems stock. Empowered Funds LLC increased its stake in China Automotive Systems, Inc. (NASDAQ:CAAS) by 8.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,258 shares of the auto parts company’s stock after purchasing an additional 12,402 shares during the quarter. Empowered Funds LLC owned about 0.52% of China Automotive Systems worth $691,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 5.17% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of China Automotive Systems in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus 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.