China Automotive Systems (NASDAQ:CAAS) Stock Passes Above 200-Day Moving Average – Should You Sell?

China Automotive Systems, Inc. (NASDAQ:CAAS)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.33 and traded as high as $4.75. China Automotive Systems shares last traded at $4.68, with a volume of 13,926 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of China Automotive Systems in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

China Automotive Systems Stock Performance

The firm has a market capitalization of $141.20 million, a price-to-earnings ratio of 4.22 and a beta of 0.96. The company has a 50 day moving average price of $4.32 and a two-hundred day moving average price of $4.33.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bridgeway Capital Management LLC lifted its stake in China Automotive Systems by 2.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 301,155 shares of the auto parts company’s stock valued at $1,229,000 after buying an additional 8,547 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of China Automotive Systems by 8.6% during the first quarter. Empowered Funds LLC now owns 156,258 shares of the auto parts company’s stock valued at $691,000 after acquiring an additional 12,402 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of China Automotive Systems in the third quarter valued at approximately $86,000. Finally, Citadel Advisors LLC acquired a new stake in shares of China Automotive Systems in the third quarter worth approximately $213,000. Institutional investors and hedge funds own 5.17% of the company’s stock.

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.