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

China Automotive Systems, Inc. (NASDAQ:CAAS)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.43 and traded as high as $4.49. China Automotive Systems shares last traded at $4.47, with a volume of 6,083 shares trading hands.

Analysts Set New Price Targets

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

China Automotive Systems Trading Down 0.4%

The business’s 50-day simple moving average is $4.53 and its 200-day simple moving average is $4.43. The company has a market capitalization of $134.86 million, a PE ratio of 3.15 and a beta of 1.02.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC boosted its holdings 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 purchasing an additional 8,547 shares during the last quarter. XTX Topco Ltd acquired a new stake in China Automotive Systems during the 4th quarter worth about $47,000. Empowered Funds LLC raised its stake in shares of 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 valued at $691,000 after buying an additional 12,402 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of China Automotive Systems during the 3rd quarter valued at about $86,000. Finally, Citadel Advisors LLC acquired a new position in shares of China Automotive Systems in the 3rd quarter valued at about $213,000. 5.17% of the stock is currently owned by institutional investors and hedge funds.

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.