China Automotive Systems (NASDAQ:CAAS) Research coverage has begun on began covering stocks of China Automotive Systems (NASDAQ:CAAS – Get Assessment) in a research report delivered Saturday to clients and investors. The company has set a “buy” rating on the auto parts company’s stock.

Separately, Greenridge Global lowered its price target on China Automotive Systems from $7.00 to $6.00 and set a “buy” rating for the company in a Tuesday, May 24 research note.

Chinese auto systems trade up 0.7%

Shares of China Automotive Systems opened Friday at $4.18. The stock has a 50-day moving average of $3.29 and a 200-day moving average of $2.99. China Automotive Systems has a 12-month low of $2.20 and a 12-month high of $5.12. The company has a market capitalization of $128.17 million, a PE ratio of 9.09 and a beta of 2.21.

Institutional investors weigh in on China Automotive Systems

A hedge fund recently increased its stake in shares of China Automotive Systems. Hanson & Doremus Investment Management increased its stake in shares of China Automotive Systems, Inc. (NASDAQ: CAAS – Get Rating) by 399.3% during the first quarter, according to the company in its latest Form 13F filing with the Securities and Exchange Commission. (SECOND). The company held 24,164 shares of the auto parts company after buying an additional 19,324 shares during the period. Hanson & Doremus Investment Management owned 0.08% of China Automotive Systems worth $74,000 when it last filed with the Securities and Exchange Commission (SEC). 2.57% of the shares are held by hedge funds and other institutional investors.

About China Automotive Systems

(Get an assessment)

China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People’s Republic of China. It produces rack and pinion power steering gears for cars and light commercial vehicles; integrated power steering boxes for heavy vehicles; power steering parts for light vehicles; sensor modules; automobile steering systems and columns; and automotive electronic and hydraulic power steering systems and parts.

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