China Automotive Systems, Inc. (CAAS) Stock Formed Bearish Double Bottom. What To Expect?

May 27, 2018 - By Adrian Mccoy

Investors sentiment decreased to 0.82 in 2017 Q4. Its down 1.35, from 2.17 in 2017Q3. It is negative, as 5 investors sold China Automotive Systems, Inc. shares while 6 reduced holdings. 2 funds opened positions while 7 raised stakes. 1.65 million shares or 6.30% more from 1.56 million shares in 2017Q3 were reported.
59,128 are held by Macquarie Grp Limited. Hanson And Doremus Investment Mngmt has invested 0.13% in China Automotive Systems, Inc. (NASDAQ:CAAS). Connor Clark Lunn Invest Ltd reported 28,300 shares. Morgan Stanley holds 0% in China Automotive Systems, Inc. (NASDAQ:CAAS) or 2,604 shares. Myriad Asset Management Ltd holds 0.01% or 20,204 shares in its portfolio. Gabelli Funds Ltd Com invested in 0% or 90,022 shares. Renaissance Techs holds 0% or 461,033 shares in its portfolio. One Trading Lp has 0% invested in China Automotive Systems, Inc. (NASDAQ:CAAS) for 8,217 shares. Stuyvesant reported 37,907 shares. Deutsche Comml Bank Ag invested in 71,202 shares or 0% of the stock. 67,370 were accumulated by Invesco Limited. Geode Capital Ltd Llc holds 0% or 13,333 shares. Jpmorgan Chase Com holds 687 shares. Bridgeway Cap Mngmt reported 66,400 shares. Spark Invest Mgmt Limited Co has invested 0.02% of its portfolio in China Automotive Systems, Inc. (NASDAQ:CAAS).

The chart of China Automotive Systems, Inc. (CAAS) shows a double bottom with $4.19 target or 8.00 % below today’s $4.55 share price. The 9 months chart pattern indicates high risk for the $143.98 million company. It was reported on May, 27 by Finviz.com. If the $4.19 price target is reached, the company will be worth $11.52M less. Double bottoms are rare but powerful chart patterns.

It closed at $4.55 lastly. It is down 7.86% since May 27, 2017 and is downtrending. It has underperformed by 19.41% the S&P500.

Analysts await China Automotive Systems, Inc. (NASDAQ:CAAS) to report earnings on August, 9. They expect $0.18 EPS, down 35.71 % or $0.10 from last year’s $0.28 per share. CAAS’s profit will be $5.70M for 6.32 P/E if the $0.18 EPS becomes a reality. After $0.14 actual EPS reported by China Automotive Systems, Inc. for the previous quarter, Wall Street now forecasts 28.57 % EPS growth.

More news for China Automotive Systems, Inc. (NASDAQ:CAAS) were recently published by: Prnewswire.com, which released: “China Automotive Systems Reports 2018 First Quarter Results” on May 10, 2018. Prnewswire.com‘s article titled: “China Automotive Systems Establishes Joint Venture with KYB (China) Investment Co., Ltd. for EPS Systems” and published on May 03, 2018 is yet another important article.

China Automotive Systems, Inc., through its subsidiaries, makes and sells automotive systems and components in the People's Republic of China, the United States, and internationally. The company has market cap of $143.98 million. It produces rack and pinion power steering gears for cars and light duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronic systems and parts. It currently has negative earnings. The firm is also involved in the marketing of automotive parts in North America, as well as the provision of after sales, and research and development support services.

China Automotive Systems, Inc. (NASDAQ:CAAS) Institutional Positions Chart

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