China Automotive Systems Inc. CAAS was a big mover last session, as the company saw its shares surge around 25% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company as the stock is now up 47.2% in the past one-month time frame.
The company has seen one positive revision in the past one month, while its Zacks Consensus Estimate moved higher over the same time frame, suggesting that more solid trading could be ahead for this stock. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
China Automotive Systems currently carries a Zacks Rank #2 (Buy), while its Earnings ESP is 0.00%.
CHINA AUTO SYS Price
Another favorably placed stock in the same industry is Allison Transmission Holdings, Inc. ALSN, sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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