The stock of China Automotive Systems, Inc. (NASDAQ:CAAS) is a huge mover today! About 124,429 shares traded hands or 550.71% up from the average. China Automotive Systems, Inc. (NASDAQ:CAAS) has declined 2.68% since April 21, 2016 and is downtrending. It has underperformed by 8.01% the S&P500.
The move comes after 9 months positive chart setup for the $145.68 million company. It was reported on Nov, 23 by Barchart.com. We have $4.89 PT which if reached, will make NASDAQ:CAAS worth $11.65M more.
Analysts await China Automotive Systems, Inc. (NASDAQ:CAAS) to report earnings on March, 29. They expect $0.19 earnings per share, down 13.64% or $0.03 from last year’s $0.22 per share. CAAS’s profit will be $6.11 million for 5.96 P/E if the $0.19 EPS becomes a reality. After $0.18 actual earnings per share reported by China Automotive Systems, Inc. for the previous quarter, Wall Street now forecasts 5.56% EPS growth.
According to Zacks Investment Research, “China Automotive Systems is a holding company and has no significant business operations other than their interest in Genesis in which they manufacture power steering systems and other component parts for automobiles.”
Insitutional Activity: The institutional sentiment increased to 2.75 in Q2 2016. Its up 2.25, from 0.5 in 2016Q1. The ratio improved, as 5 funds sold all China Automotive Systems, Inc. shares owned while 3 reduced positions. 1 funds bought stakes while 3 increased positions. They now own 993,859 shares or 53.78% less from 2.15 million shares in 2016Q1.
Gabelli Funds Limited Liability Com owns 90,022 shares or 0% of their US portfolio. Spark Investment Mgmt Limited Liability Corp, a New York-based fund reported 61,600 shares. Renaissance Techs Llc last reported 0% of its portfolio in the stock. One Trading Limited Partnership has invested 0% of its portfolio in China Automotive Systems, Inc. (NASDAQ:CAAS). Deutsche Bancorp Ag, a Germany-based fund reported 29,778 shares. Sensato Invsts Lc has invested 0.03% of its portfolio in China Automotive Systems, Inc. (NASDAQ:CAAS). Creative Planning last reported 1,000 shares in the company. Hanson Doremus Invest, a Vermont-based fund reported 67,525 shares. Moreover, Geode Capital Management Ltd Limited Liability Company has 0% invested in China Automotive Systems, Inc. (NASDAQ:CAAS) for 14,219 shares. Seizert Prtn Ltd Liability holds 128,838 shares or 0.02% of its portfolio. Walleye Trading Limited Liability holds 2,000 shares or 0% of its portfolio. Moreover, Tower Research Capital Llc (Trc) has 0% invested in China Automotive Systems, Inc. (NASDAQ:CAAS) for 4,241 shares. First Manhattan holds 0% or 41,850 shares in its portfolio. Pnc Svcs Gru Inc accumulated 0% or 11,393 shares. Moreover, Stuyvesant Mngmt has 0.27% invested in China Automotive Systems, Inc. (NASDAQ:CAAS) for 43,157 shares.
Insider Transactions: Since June 2, 2016, the stock had 1 insider buy, and 0 sales for $12,600 net activity. Wong Arthur Lap Tat bought $12,600 worth of China Automotive Systems, Inc. (NASDAQ:CAAS) on Thursday, June 2.
More notable recent China Automotive Systems, Inc. (NASDAQ:CAAS) news were published by: Prnewswire.com which released: “China Automotive Systems Enters into Fiat Chrysler EPS System Procurement Program” on November 16, 2016, also Prnewswire.com with their article: “China Automotive Systems Reports Higher Net Sales and Profit in the 2016 Third …” published on November 10, 2016, Prnewswire.com published: “China Automotive Systems Reports 2016 Second Quarter Financial Results” on August 11, 2016. More interesting news about China Automotive Systems, Inc. (NASDAQ:CAAS) were released by: Prnewswire.com and their article: “China Automotive Systems Won China’s Highest Product Quality Award” published on April 06, 2016 as well as Prnewswire.com‘s news article titled: “China Automotive Systems Announces Share Repurchase” with publication date: January 07, 2016.
CAAS Company Profile
China Automotive Systems, Inc., (China Automotive), incorporated on June 23, 1999, 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 divisions of the automobile industry. Genesis also owns interests in a Brazil trading company, which engages mainly in the import and sales of automotive parts in Brazil. Henglong USA Corporation (HLUSA), which is a subsidiary of the Company, engages in marketing of automotive parts in North America, and provides after sales service and research and development support. The Company’s geographical divisions include the United States, China and other foreign countries.
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