China Automotive Systems (NASDAQ:CAAS) Stock Price Crosses 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 Tuesday . The stock has a 200-day moving average of $4.38 and traded as high as $4.53. China Automotive Systems shares last traded at $4.53, with a volume of 10,096 shares trading hands.

Analysts Set New Price Targets

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

China Automotive Systems Price Performance

The company has a market cap of $136.67 million, a PE ratio of 4.08 and a beta of 0.96. The company’s 50 day simple moving average is $4.47 and its two-hundred day simple moving average is $4.38.

Institutional Trading of China Automotive Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC lifted its stake 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 worth $1,229,000 after purchasing an additional 8,547 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of China Automotive Systems in the 4th quarter valued at $47,000. Empowered Funds LLC lifted its stake in China Automotive Systems by 8.6% during the 1st quarter. Empowered Funds LLC now owns 156,258 shares of the auto parts company’s stock worth $691,000 after acquiring an additional 12,402 shares in the last quarter. Virtu Financial LLC purchased a new position in China Automotive Systems during the 3rd quarter valued at about $86,000. Finally, Citadel Advisors LLC purchased a new position in China Automotive Systems during the 3rd quarter valued at about $213,000. 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.