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China Automotive Systems Inc. (CAAS) Is Touching $5.98: At This Price, The Risk Is Justified.

China Automotive Systems Inc. (NASDAQ:CAAS) concluded the trading at $5.98 on Wednesday, November 23 with a rise of 3.46% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $5.78 and 5Y monthly beta was reading 2.12 with its price kept floating in the range of $5.71 and $6.055 on the day. Company’s P/E ratio for the trailing 12 months is 13.17. Considering stock’s 52-week price range provides that CAAS hit a high price of $5.85 and saw its price falling to a low level of $2.20 during that period. Over a period of past 1-month, stock came adding 45.50% in its value.

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With its current market valuation of $182.45 million, China Automotive Systems Inc. is set to declare its quarterly results on Nov 10, 2022 – Nov 14, 2022. Analysts are in estimates of $0.04 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to $0.4 for 2022 with estimates of that growing to $0.3 in next year. These estimates are suggesting current year growth of 11.10% for EPS and -25.00% growth next year.

Analysts watching the company’s growth closely have provided estimates for its revenue growth with an average revenue estimate of $120.56 million. They suggested that in the process company could generate revenue of as low as $120.56 million which could climb up to $120.56 million to hit a high. The average estimate is representing an increase of 11.40% in sales growth from that of posted by the company in the same quarter of last year. In keeping analyst consensus estimate with, company is forecasted to be making an annual revenue of $515.59 million in 2022, which will be 3.50% more from revenue generated by the company last year.

In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review CAAS stock’s current outlook then short term indicators are assigning it an average of 100% Buy, while medium term indicators are categorizing the stock at an average of 100% Buy. Long term indicators are suggesting an average of 100% Buy for it.

Digging deeper we become aware of the PEG ratio of the CAAS stock which is currently positioned at 1.32. It further provides that stock’s current price level is 36.36% away from its 20-day simple moving average and is 42.65% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 79.20 while volatility remained at 9.98% over the past week which changes to 6.98% when measuring it over the past month. Beta is valued at 2.07, while measure of average true range or ATR is currently at 0.33.

In comparing China Automotive Systems Inc. (CAAS)’s stock with other industry players reveals that stock’s current price change of 3.46% and that of 73.33% over the past 12 months is in competing position with that of American Axle & Manufacturing Holdings Inc. (AXL) which saw its stock price fall by -1.36% in the last trading and went through an increase of 4.42% in past 12-month trading. Industry’s another major player Dana Incorporated (DAN) has rise 0.23% up in previous session, but over the past year has faced a fall of -27.17%, while Fox Factory Holding Corp. (FOXF) was also up 1.11% however its price remained floating in the red at -42.81% over the same period. China Automotive Systems Inc. has a P/E ratio of 13.17 against that of American Axle & Manufacturing Holdings Inc.’s 376.30. On the other hand, the S&P 500 Index was up 0.59% in the last trading session while the Dow Jones Industrial closed the session higher at 0.28%.

Having a second look at China Automotive Systems Inc. (NASDAQ:CAAS) provides that stock’s average daily trading volume for 3 months was 154.54K, while it jumped to 0.22 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 30.85 million.

The percentage of outstanding shares held by the insiders is 65.18% while it is 3.10% for the institutional holders. The figures also indicate that as of Oct 13, 2022, number of stock’s short shares was 54900.0 which implies a short ratio of 0.56. This shows down a 0.18% of Short Interest in company’s outstanding shares on the day. In October the standing of shares short improved as it was 57480.0 in the previous month. Addition of 123.13% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.

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