China Automotive Systems Inc. (CAAS, Financial) experienced a notable stock movement with a significant increase of 5.38% in its share price. The stock is currently valued at $4.70 per share, with a trading volume of 64,807 shares and a turnover rate of 0.21%. The stock's volatility is marked at 4.71%.
Recent financial reports reveal that CAAS achieved a revenue of $159 million and a net profit of $7.14 million, translating to earnings per share of $0.24. The gross profit reported was $29.30 million, with a price-to-earnings (P/E) ratio of 3.93. As of now, no institutional ratings are offering recommendations on buying, holding, or selling the stock.
Within the automotive parts sector, where CAAS is positioned, the overall growth is modest at 0.08%. Notably, stocks such as Goodyear Tire & Rubber, Kandi Technologies, and Carparts.com have shown substantial increases. Goodyear Tire & Rubber, Hyzon Motors, and Luminar Technologies are also actively traded, with turnover rates of 5.60%, 4.38%, and 3.73% respectively. Stocks with significant fluctuations include Mkdwell Tech Inc., Sag Holdings Limited, and Innoviz Technologies, with amplitudes of 28.26%, 20.61%, and 17.34% respectively.
China Automotive Systems Inc. primarily operates as a holding company supplying a comprehensive range of steering systems and components for the passenger and commercial vehicle markets in China. Their product offerings include over 310 different models of power steering systems, among others, mainly deriving revenue from the Chinese market.
