Insider Selling: Wu Qizhou Sells 26,473 Shares of China Automotive Systems Stock (CAAS)
China Automotive Systems (NASDAQ:CAAS) CEO Wu Qizhou sold 26,473 shares of China Automotive Systems stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $9.48, for a total value of $250,964.04. Following the completion of the sale, the chief executive officer now directly owns 1,418,663 shares in the company, valued at approximately $13,448,925. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Zacks downgraded shares of China Automotive Systems from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 5th. They now have a $10.30 price target on the stock.
China Automotive Systems (NASDAQ:CAAS) opened at 9.13 on Thursday. China Automotive Systems has a 1-year low of $6.27 and a 1-year high of $9.87. The stock has a 50-day moving average of $8.90 and a 200-day moving average of $8.34. The company has a market cap of $256.0 million and a price-to-earnings ratio of 7.59.
China Automotive Systems (NASDAQ:CAAS) last announced its earnings results on Wednesday, August 13th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.17. The company had revenue of $115.50 million for the quarter, compared to the consensus estimate of $119.62 million. On average, analysts predict that China Automotive Systems will post $1.13 earnings per share for the current fiscal year.
China Automotive Systems, Inc (NASDAQ:CAAS) is a holding company and has no significant business operations or assets other than its interest in Great Genesis Holdings Limited (Genesis).
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