Traders Purchase Large Volume of China Automotive Systems Call Options (NASDAQ:CAAS)

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China Automotive Systems, Inc. (NASDAQ:CAAS) was the target of some unusual options trading on Tuesday. Stock traders purchased 1,669 call options on the company. This is an increase of approximately 1,569% compared to the typical daily volume of 100 call options.

In related news, CFO Jie Li sold 50,000 shares of the company’s stock in a transaction dated Thursday, December 3rd. The stock was sold at an average price of $9.03, for a total transaction of $451,500.00. Following the sale, the chief financial officer now owns 131,030 shares in the company, valued at $1,183,200.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 63.25% of the stock is currently owned by insiders.

A hedge fund recently bought a new stake in China Automotive Systems stock. ExodusPoint Capital Management LP acquired a new position in shares of China Automotive Systems, Inc. (NASDAQ:CAAS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,025 shares of the auto parts company’s stock, valued at approximately $88,000. Hedge funds and other institutional investors own 3.11% of the company’s stock.

Shares of China Automotive Systems stock traded down $0.71 during midday trading on Wednesday, reaching $6.73. The company had a trading volume of 14,646 shares, compared to its average volume of 325,843. The stock has a fifty day moving average price of $6.69 and a 200 day moving average price of $4.55. China Automotive Systems has a fifty-two week low of $1.42 and a fifty-two week high of $13.69. The firm has a market cap of $207.63 million, a PE ratio of 683.00 and a beta of 3.28.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of China Automotive Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, January 20th. Greenridge Global downgraded China Automotive Systems from a “buy” rating to a “sell” rating in a report on Tuesday, December 1st.

China Automotive Systems Company Profile

China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People’s Republic of China. The company 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 and hydraulic power steering systems and parts.

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