China Automotive Systems (NASDAQ:CAAS) Shares Pass Above 200 Day Moving Average of $3.41

China Automotive Systems, Inc. (NASDAQ:CAAS)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.41 and traded as high as $3.70. China Automotive Systems shares last traded at $3.53, with a volume of 32,626 shares.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of China Automotive Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, March 29th.

China Automotive Systems Stock Performance

The company has a market cap of $106.57 million, a P/E ratio of 2.82 and a beta of 2.45. The firm’s fifty day moving average is $3.44 and its two-hundred day moving average is $3.41.

China Automotive Systems (NASDAQ:CAAS) last issued its earnings results on Thursday, March 28th. The auto parts company reported $0.36 earnings per share for the quarter. The company had revenue of $159.16 million during the quarter. China Automotive Systems had a net margin of 6.53% and a return on equity of 10.84%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in China Automotive Systems stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of China Automotive Systems, Inc. (NASDAQ:CAAS) by 32.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,261 shares of the auto parts company’s stock after purchasing an additional 11,655 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.16% of China Automotive Systems worth $184,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 5.17% of the company’s stock.

China Automotive Systems Company Profile

China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China, the United States, and internationally. It produces rack and pinion power steering gears for cars and light-duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronics and systems and parts.