Price Action Report: China Automotive Systems, Inc. Increases Again; Strong Momentum for Buyers

Price Action Report: China Automotive Systems, Inc. Increases Again; Strong Momentum for Buyers

The stock of China Automotive Systems, Inc. (NASDAQ:CAAS) is a huge mover today! About 295,767 shares traded hands or 707.75% up from the average. China Automotive Systems, Inc. (NASDAQ:CAAS) has risen 39.35% since April 25, 2016 and is uptrending. It has outperformed by 33.34% the S&P500.
The move comes after 6 months positive chart setup for the $266.74M company. It was reported on Nov, 28 by Barchart.com. We have $7.16 PT which if reached, will make NASDAQ:CAAS worth $16.00 million 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 $7.51M for 8.88 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 increased, 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.
Creative Planning holds 0% or 1,000 shares in its portfolio. Bridgeway Mgmt Incorporated has invested 0% of its portfolio in China Automotive Systems, Inc. (NASDAQ:CAAS). Grp One Trading Limited Partnership has invested 0% of its portfolio in China Automotive Systems, Inc. (NASDAQ:CAAS). Moreover, Deutsche Bancorp Ag has 0% invested in China Automotive Systems, Inc. (NASDAQ:CAAS) for 29,778 shares. Tower Capital Lc (Trc) last reported 0% of its portfolio in the stock. First Manhattan Communications has 41,850 shares for 0% of their US portfolio. Pnc Fin Services Gru holds 11,393 shares or 0% of its portfolio. Geode Mgmt Limited Liability Corp owns 14,219 shares or 0% of their US portfolio. Gabelli Funds Ltd Liability Co holds 0% or 90,022 shares in its portfolio. Hanson And Doremus Invest Mgmt has 67,525 shares for 0.1% of their US portfolio. Renaissance Technologies Ltd Limited Liability Company last reported 377,833 shares in the company. Walleye Trading Ltd Co last reported 2,000 shares in the company. Spark Invest Mngmt Ltd Liability, a New York-based fund reported 61,600 shares. Sensato Investors Llc last reported 63,563 shares in the company. Seizert Capital Ptnrs Ltd last reported 128,838 shares in the company.

Insider Transactions: Since June 2, 2016, the stock had 1 insider purchase, and 0 sales for $12,600 net activity. $12,600 worth of China Automotive Systems, Inc. (NASDAQ:CAAS) shares were bought by Wong Arthur Lap Tat.

More important 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 Finance.Yahoo.com published article titled: “China Automotive (CAAS) Worth a Look: Stock Surges 24.6%”, 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) was released by: Prnewswire.com and their article: “China Automotive Systems Won China’s Highest Product Quality Award” with publication date: April 06, 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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