China Automotive Systems Stock Falls On Unusually High Volume (CAAS)

NEW YORK ( TheStreet) -- China Automotive Systems (Nasdaq: CAAS) is trading at unusually high volume Monday with 930,122 shares changing hands. It is currently at four times its average daily volume and trading down 36 cents (-3.3%) at $10.43 as of 2:49 p.m. ET.

China Automotive Systems has a market cap of $220.7 million and is part of the consumer goods sector and automotive industry. Shares are down 20.7% year to date as of the close of trading on Friday.

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 7.5, 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 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.

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