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

China Automotive Systems, Inc. (NASDAQ:CAAS) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.39 and traded as high as $4.50. China Automotive Systems shares last traded at $4.46, with a volume of 13,074 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of China Automotive Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, China Automotive Systems has a consensus rating of “Hold”.

China Automotive Systems Trading Up 0.9%

The stock’s 50-day simple moving average is $4.46 and its 200-day simple moving average is $4.39. The firm has a market capitalization of $134.56 million, a P/E ratio of 3.14 and a beta of 1.03.

China Automotive Systems (NASDAQ:CAAS) last issued its quarterly earnings data on Wednesday, April 22nd. The auto parts company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.54. China Automotive Systems had a net margin of 5.59% and a return on equity of 10.58%. The business had revenue of $229.19 million during the quarter, compared to the consensus estimate of $118.18 million.

Institutional Investors Weigh In On China Automotive Systems

A number of institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new stake in China Automotive Systems in the 4th quarter worth about $47,000. Citadel Advisors LLC bought a new stake in China Automotive Systems in the 3rd quarter worth about $213,000. Virtu Financial LLC bought a new stake in China Automotive Systems in the 3rd quarter worth about $86,000. Bridgeway Capital Management LLC boosted its stake in China Automotive Systems by 2.9% in 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 boosted its stake 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. 5.17% of the stock is owned by institutional investors.

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.