China Automotive Systems (NASDAQ:CAAS) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

China Automotive Systems, Inc. (NASDAQ:CAAS)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.38 and traded as high as $4.53. China Automotive Systems shares last traded at $4.53, with a volume of 10,096 shares trading hands.

Analyst Upgrades and Downgrades

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

China Automotive Systems Stock Up 2.5%

The stock’s 50-day moving average price is $4.47 and its 200 day moving average price is $4.38. The firm has a market capitalization of $136.67 million, a price-to-earnings ratio of 4.08 and a beta of 0.96.

Hedge Funds Weigh In On China Automotive Systems

A number of institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC purchased a new stake in China Automotive Systems in the 3rd quarter valued at $213,000. Virtu Financial LLC purchased a new stake in shares of China Automotive Systems in the third quarter valued at about $86,000. Empowered Funds LLC grew its holdings 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 valued at $691,000 after purchasing an additional 12,402 shares during the period. XTX Topco Ltd acquired a new stake in China Automotive Systems during the fourth quarter worth about $47,000. Finally, Bridgeway Capital Management LLC raised its stake in 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 worth $1,229,000 after purchasing an additional 8,547 shares during the period. Hedge funds and other institutional investors own 5.17% of the company’s stock.

About China Automotive Systems

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.