Hanson & Doremus Investment Management raised its position in China Automotive Systems, Inc. (NASDAQ:CAAS) by 11.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,545 shares of the auto parts company’s stock after buying an additional 8,680 shares during the period. Hanson & Doremus Investment Management owned approximately 0.27% of China Automotive Systems worth $419,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Stuyvesant Capital Management raised its position in China Automotive Systems by 4.0% in the first quarter. Stuyvesant Capital Management now owns 41,807 shares of the auto parts company’s stock worth $209,000 after buying an additional 1,600 shares during the period. First Manhattan Co. raised its position in China Automotive Systems by 41.6% in the first quarter. First Manhattan Co. now owns 41,850 shares of the auto parts company’s stock worth $173,000 after buying an additional 12,300 shares during the period. Finally, Renaissance Technologies LLC raised its position in China Automotive Systems by 39.1% in the fourth quarter. Renaissance Technologies LLC now owns 583,333 shares of the auto parts company’s stock worth $3,127,000 after buying an additional 163,910 shares during the period. 5.16% of the stock is owned by hedge funds and other institutional investors.
China Automotive Systems, Inc. (NASDAQ CAAS) opened at 5.23 on Friday. China Automotive Systems, Inc. has a 52 week low of $3.69 and a 52 week high of $7.96. The company’s 50-day moving average price is $4.86 and its 200-day moving average price is $4.87. The company has a market capitalization of $165.50 million, a price-to-earnings ratio of 6.38 and a beta of 2.22.
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A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised China Automotive Systems from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a research note on Tuesday. ValuEngine raised China Automotive Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 16th.
About China Automotive Systems
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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