Insider Selling: China Automotive Systems CEO Unloads 93,527 Shares of Stock (CAAS)
China Automotive Systems (NASDAQ:CAAS) CEO Wu Qizhou sold 93,527 shares of the stock on the open market in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $9.52, for a total transaction of $890,377.04. Following the completion of the transaction, the chief executive officer now directly owns 1,325,136 shares of the company’s stock, valued at approximately $12,615,295. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of China Automotive Systems (NASDAQ:CAAS) opened at 9.54 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 $9.01 and a 200-day moving average of $8.40. The company has a market cap of $267.5 million and a price-to-earnings ratio of 8.13.
China Automotive Systems (NASDAQ:CAAS) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.39 EPS for the quarter, beating the Thomson Reuters 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. Analysts expect that China Automotive Systems will post $1.13 EPS for the current fiscal year.
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, 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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