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

China Automotive Systems, Inc. (NASDAQ:CAAS)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.28 and traded as high as $4.39. China Automotive Systems shares last traded at $4.31, with a volume of 22,011 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of China Automotive Systems in a research note on Monday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

China Automotive Systems Stock Up 0.5%

The firm has a market capitalization of $130.03 million, a P/E ratio of 3.88 and a beta of 0.86. The company has a fifty day simple moving average of $4.24 and a 200 day simple moving average of $4.28.

China Automotive Systems (NASDAQ:CAAS) last posted its quarterly earnings results on Wednesday, November 12th. The auto parts company reported $0.32 earnings per share (EPS) for the quarter. China Automotive Systems had a return on equity of 8.38% and a net margin of 4.62%.

Institutional Investors Weigh In On China Automotive Systems

Several institutional investors and hedge funds have recently made changes to their positions in CAAS. Virtu Financial LLC purchased a new position in China Automotive Systems in the 3rd quarter worth approximately $86,000. Citadel Advisors LLC bought a new stake in shares of China Automotive Systems in the 3rd quarter worth $213,000. Empowered Funds LLC raised its stake in shares of China Automotive Systems by 8.6% in 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 last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings 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 valued at $1,229,000 after purchasing an additional 8,547 shares in the last quarter. Institutional investors own 5.17% of the company’s stock.

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.