Shares of China Automotive Systems (Nasdaq:CAAS) have taken a tremendous swing upward. The stock is trading at $10.20 as of 10:06 a.m. ET, 25.3% above Thursday's closing price of $8.14. Volume is at 489,110, 2.1 times the daily average of 233,900.
NEW YORK ( TheStreet) -- Shares of China Automotive Systems (Nasdaq: CAAS) have taken a tremendous swing upward. The stock is trading at $10.20 as of 10:06 a.m. ET, 25.3% above Thursday's closing price of $8.14. Volume is at 489,110, 2.1 times the daily average of 233,900. China Automotive Systems has a market cap of $227 million and is part of the consumer goods sector and automotive industry. Shares are down 40.1% year to date as of the close of trading on Thursday. China Automotive Systems, Inc., through its interests in Sino-foreign joint ventures, engages in the manufacture and sale of power steering systems and other component parts for the automotive industry in the People's Republic of China. The company has a P/E ratio of 7.8, equal to the average automotive industry P/E ratio and below the S&P 500 P/E ratio of 16.8. TheStreet Ratings rates China Automotive Systems as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, a generally disappointing performance in the stock itself and poor profit margins. You can view the full China Automotive Systems Ratings Report. See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center. Interested in other stocks that are soaring? Get free SMS text alerts sent to you when the action happens by texting SOAR to 95370 or select from multiple alert options.
Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100.