China Automotive Systems (NASDAQ:CAAS) Stock Price Up 0.2% – Time to Buy?

Shares of China Automotive Systems, Inc. (NASDAQ:CAAS) traded up 0.2% during trading on Friday. The company traded as high as $4.16 and last traded at $4.14. 11,690 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 15,108 shares. The stock had previously closed at $4.13.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of China Automotive Systems from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 28th. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, China Automotive Systems presently has a consensus rating of “Buy”.

China Automotive Systems Stock Up 0.2%

The stock has a 50-day simple moving average of $4.77 and a two-hundred day simple moving average of $4.53. The firm has a market cap of $124.90 million, a PE ratio of 2.92 and a beta of 1.07.

China Automotive Systems (NASDAQ:CAAS) last issued its quarterly earnings results on Thursday, August 13th. The auto parts company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.42. The firm had revenue of $206.23 million for the quarter, compared to the consensus estimate of $118.18 million.

China Automotive Systems Company Profile

China Automotive Systems, Inc (NASDAQ: CAAS) develops and manufactures automotive steering systems and components. Its products include hydraulic power steering systems, electric power steering systems, steering gears, steering columns, power steering pumps and related components.

The company supplies vehicle manufacturers and other automotive customers, primarily in China, and serves international markets through its export and global customer activities. Its products are used in passenger vehicles, commercial vehicles and other automotive applications.

China Automotive Systems was established in 2003 and is headquartered in Jingzhou, Hubei Province, China.