China Automotive Systems (NASDAQ:CAAS) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of China Automotive Systems, Inc. (NASDAQ:CAAS) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.33 and traded as high as $4.75. China Automotive Systems shares last traded at $4.68, with a volume of 13,926 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed 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.com, the company currently has a consensus rating of “Hold”.

China Automotive Systems Stock Up 0.6%

The stock has a 50-day moving average of $4.32 and a 200 day moving average of $4.33. The stock has a market cap of $141.20 million, a PE ratio of 4.22 and a beta of 0.96.

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

Hedge Funds Weigh In On China Automotive Systems

Institutional investors and hedge funds have recently bought and sold shares of the company. Bridgeway Capital Management LLC increased its holdings in shares of China Automotive Systems by 2.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 301,155 shares of the auto parts company’s stock worth $1,229,000 after buying an additional 8,547 shares during the last quarter. Empowered Funds LLC lifted 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 valued at $691,000 after acquiring an additional 12,402 shares during the last quarter. Citadel Advisors LLC purchased a new position in China Automotive Systems in the third quarter worth approximately $213,000. Finally, Virtu Financial LLC acquired a new stake in China Automotive Systems during the third quarter worth $86,000. 5.17% of the stock is currently owned by institutional investors and hedge funds.

About China Automotive Systems

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.