China Automotive Systems, Inc. (NASDAQ:CAAS – Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.15 and traded as high as $4.32. China Automotive Systems shares last traded at $4.23, with a volume of 17,291 shares traded.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen upgraded shares of China Automotive Systems from a “hold” rating to a “buy” rating in a research report on Monday, May 19th.
Get Our Latest Report on China Automotive Systems
China Automotive Systems Stock Performance
China Automotive Systems (NASDAQ:CAAS – Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The auto parts company reported $0.24 earnings per share (EPS) for the quarter. China Automotive Systems had a net margin of 4.25% and a return on equity of 7.33%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in CAAS. Connor Clark & Lunn Investment Management Ltd. lifted its position in China Automotive Systems by 22.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,586 shares of the auto parts company’s stock valued at $437,000 after purchasing an additional 19,484 shares during the period. Renaissance Technologies LLC lifted its position in China Automotive Systems by 4.8% during the 4th quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company’s stock valued at $1,726,000 after purchasing an additional 19,100 shares during the period. Two Sigma Securities LLC acquired a new position in China Automotive Systems during the 4th quarter valued at about $86,000. Bridgeway Capital Management LLC lifted its position in China Automotive Systems by 2.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 280,206 shares of the auto parts company’s stock valued at $1,149,000 after purchasing an additional 7,119 shares during the period. Finally, Virtu Financial LLC acquired a new position in China Automotive Systems during the 1st quarter valued at about $57,000. 5.17% of the stock is currently owned by institutional investors and hedge funds.
About China Automotive Systems
China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China, the United States, and internationally. It produces rack and pinion power steering gears for cars and light-duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronics and systems and parts.
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