China Automotive Systems (NASDAQ:CAAS) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

China Automotive Systems, Inc. (NASDAQ:CAAS)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.35 and traded as high as $4.53. China Automotive Systems shares last traded at $4.49, with a volume of 11,915 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of China Automotive Systems in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, China Automotive Systems currently has an average rating of “Hold”.

China Automotive Systems Stock Up 1.1%

The company has a fifty day moving average of $4.40 and a two-hundred day moving average of $4.35. The stock has a market capitalization of $135.46 million, a price-to-earnings ratio of 4.05 and a beta of 0.96.

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

Institutional Investors Weigh In On China Automotive Systems

A number of institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in China Automotive Systems during the 3rd quarter worth approximately $86,000. Citadel Advisors LLC purchased a new position in China Automotive Systems in the third quarter worth $213,000. 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 period. Finally, Bridgeway Capital Management LLC boosted its position 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 purchasing an additional 8,547 shares in the last quarter. Hedge funds and other institutional investors 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.