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

China Automotive Systems, Inc. (NASDAQ:CAAS) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.41 and traded as high as $4.50. China Automotive Systems shares last traded at $4.46, with a volume of 5,163 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded China Automotive Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 20th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

China Automotive Systems Stock Down 0.4%

The company’s fifty day simple moving average is $4.50 and its two-hundred day simple moving average is $4.41. The company has a market capitalization of $134.56 million, a price-to-earnings ratio of 3.14 and a beta of 1.03.

China Automotive Systems (NASDAQ:CAAS) last announced its quarterly earnings results on Wednesday, April 22nd. The auto parts company reported $0.61 earnings per share 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 company had revenue of $229.19 million for the quarter, compared to analysts’ expectations of $118.18 million.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAAS. Citadel Advisors LLC acquired a new position in China Automotive Systems in the third quarter valued at about $213,000. Virtu Financial LLC bought a new stake in shares of China Automotive Systems in the third quarter worth about $86,000. Empowered Funds LLC raised its position in shares of China Automotive Systems by 8.6% during 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 during the period. XTX Topco Ltd acquired a new stake in shares of China Automotive Systems during the fourth quarter worth about $47,000. Finally, Bridgeway Capital Management LLC raised its position in shares of 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 during the period. 5.17% of the stock is currently 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.