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

China Automotive Systems, Inc. (NASDAQ:CAAS) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.17 and traded as high as $4.79. China Automotive Systems shares last traded at $4.59, with a volume of 69,108 shares changing hands.

Wall Street Analysts Forecast Growth

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

China Automotive Systems Stock Performance

The firm has a market capitalization of $138.48 million, a price-to-earnings ratio of 4.73 and a beta of 2.68. The business has a fifty day moving average of $4.19 and a two-hundred day moving average of $4.17.

China Automotive Systems (NASDAQ:CAAS) last posted its earnings results on Wednesday, August 13th. The auto parts company reported $0.25 earnings per share for the quarter. The business had revenue of $176.24 million for the quarter. China Automotive Systems had a return on equity of 7.39% and a net margin of 4.22%. China Automotive Systems has set its FY 2025 guidance at EPS.

Institutional Trading of China Automotive Systems

Hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in China Automotive Systems during the 1st quarter worth approximately $57,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in China Automotive Systems by 18.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 126,280 shares of the auto parts company’s stock worth $558,000 after purchasing an additional 19,694 shares during the last quarter. Empowered Funds LLC lifted its holdings in 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 worth $691,000 after purchasing an additional 12,402 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in China Automotive Systems by 2.9% during the 2nd 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 last quarter. 5.17% of the stock is owned by institutional investors and hedge funds.

About China Automotive Systems

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.