China Automotive Systems (NASDAQ:CAAS) Shares Pass Above 200-Day Moving Average – What’s Next?

China Automotive Systems, Inc. (NASDAQ:CAAS) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.17 and traded as high as $4.24. China Automotive Systems shares last traded at $4.06, with a volume of 19,362 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of China Automotive Systems from a “hold” rating to a “buy” rating in a research note on Monday, May 19th.

China Automotive Systems Trading Down 4.5%

The stock’s fifty day moving average is $3.95 and its 200 day moving average is $4.17. The company has a market capitalization of $122.49 million, a P/E ratio of 3.87 and a beta of 2.61.

China Automotive Systems (NASDAQ:CAAS) last announced its quarterly earnings results on Wednesday, May 14th. The auto parts company reported $0.24 EPS for the quarter. China Automotive Systems had a return on equity of 8.22% and a net margin of 5.12%.

Institutional Trading of China Automotive Systems

A number of institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC lifted its stake in shares of China Automotive Systems by 8.6% in the 1st 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. Virtu Financial LLC bought a new position in China Automotive Systems in the first quarter worth approximately $57,000. Connor Clark & Lunn Investment Management Ltd. raised its position in China Automotive Systems by 18.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 126,280 shares of the auto parts company’s stock worth $558,000 after acquiring an additional 19,694 shares during the period. Bridgeway Capital Management LLC boosted its stake in shares of China Automotive Systems by 2.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 280,206 shares of the auto parts company’s stock worth $1,149,000 after acquiring an additional 7,119 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new stake in shares of China Automotive Systems during the 4th quarter valued at $86,000. Hedge funds and other institutional investors 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.