China Automotive Systems (NASDAQ:CAAS) Stock Price Passes Above 200 Day Moving Average – What’s Next?

China Automotive Systems, Inc. (NASDAQ:CAAS)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.30 and traded as high as $4.85. China Automotive Systems shares last traded at $4.82, with a volume of 23,194 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of China Automotive Systems in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

China Automotive Systems Price Performance

The stock has a market capitalization of $145.42 million, a price-to-earnings ratio of 4.34 and a beta of 0.96. The company’s 50-day simple moving average is $4.26 and its 200-day simple moving average is $4.30.

China Automotive Systems (NASDAQ:CAAS) last posted its earnings results on Wednesday, November 12th. The auto parts company reported $0.32 earnings per share for the quarter. China Automotive Systems had a return on equity of 8.38% and a net margin of 4.62%.

Institutional Investors Weigh In On China Automotive Systems

A number of large investors have recently modified their holdings of the business. Citadel Advisors LLC acquired a new position in China Automotive Systems during the third quarter worth about $213,000. Virtu Financial LLC bought a new position in shares of China Automotive Systems during the third quarter worth about $86,000. Bridgeway Capital Management LLC boosted its position in China Automotive Systems by 2.9% during the second quarter. Bridgeway Capital Management LLC now owns 301,155 shares of the auto parts company’s stock valued at $1,229,000 after acquiring an additional 8,547 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in China Automotive Systems by 8.6% in the first quarter. Empowered Funds LLC now owns 156,258 shares of the auto parts company’s stock worth $691,000 after purchasing an additional 12,402 shares in the last quarter. Institutional investors and hedge funds own 5.17% of the company’s stock.

China Automotive Systems Company Profile

China Automotive Systems, Inc (NASDAQ: CAAS) is a leading designer, manufacturer and marketer of power steering systems and related components primarily for the automotive industry in China. The company’s core business centers on hydraulic and electric power steering products, steering columns, steering gearboxes and electronic control units. By integrating research and development, manufacturing and sales, China Automotive Systems aims to deliver high-quality steering solutions that meet the performance and safety requirements of global automakers.

The company’s product portfolio includes traditional hydraulic power steering systems, which have long been favored for their reliability, as well as advanced electric power steering units that offer improved fuel efficiency and enhanced vehicle control.