CAAS Stock Summary and Trading Ideas (China Automotive Systems | NASDAQ:CAAS)

China Automotive Systems Inc is a holding company. The firm through its subsidiary is a supplier of power steering systems and components to China's automotive industry. Its product offering encompasses a full range of auto parts incorporated into steering systems for both passenger automobiles and commercial vehicles. The company offers four separate series, more than 310 models of power steering including rack and pinion power steering, integral power steering, electronic power steering and manual steering, steering columns, steering oil pumps, and steering hoses. Geographically, it derives a majority of its revenue from China.

China Automotive Systems trades on the NASDAQ stock market under the symbol CAAS.

As of April 25, 2024, CAAS stock price declined to $3.50 with 17,812 million shares trading.

CAAS has a beta of 0.75, meaning it tends to be less sensitive to market movements. CAAS has a correlation of 0.04 to the broad based SPY ETF.

CAAS has a market cap of $105.69 million. This is considered a Micro Cap stock.

In the last 3 years, CAAS stock traded as high as $9.70 and as low as $2.20.

The top ETF exchange traded funds that CAAS belongs to (by Net Assets): BSVO, AVEM, AVES, AVSE.

CAAS has underperformed the market in the last year with a price return of -21.9% while the SPY ETF gained +23.2%. CAAS has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -4.4% and -7.7%, respectively, while the SPY returned +3.7% and -2.4%, respectively.

CAAS support price is $3.47 and resistance is $3.67 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CAAS stock will trade within this expected range on the day.