China Automotive Systems (NASDAQ:CAAS) Shares Pass Above 200-Day Moving Average of $3.41

China Automotive Systems, Inc. (NASDAQ:CAAS)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.41 and traded as high as $3.74. China Automotive Systems shares last traded at $3.74, with a volume of 38,549 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of China Automotive Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 29th.

China Automotive Systems Stock Up 0.3 %

The company has a market capitalization of $112.91 million, a price-to-earnings ratio of 2.99 and a beta of 2.45. The business’s 50-day moving average is $3.37 and its 200-day moving average is $3.41.

China Automotive Systems (NASDAQ:CAAS) last issued its quarterly earnings data on Thursday, March 28th. The auto parts company reported $0.36 earnings per share (EPS) for the quarter. The business had revenue of $159.16 million during the quarter. China Automotive Systems had a return on equity of 10.84% and a net margin of 6.53%.

Hedge Funds Weigh In On China Automotive Systems

Several institutional investors have recently made changes to their positions in CAAS. JPMorgan Chase & Co. purchased a new stake in China Automotive Systems during the fourth quarter worth $31,000. Zacks Investment Management purchased a new stake in shares of China Automotive Systems during the 2nd quarter worth about $49,000. American Century Companies Inc. acquired a new stake in shares of China Automotive Systems during the 1st quarter valued at about $50,000. Tower Research Capital LLC TRC purchased a new position in shares of China Automotive Systems in the 1st quarter valued at about $54,000. Finally, XTX Topco Ltd acquired a new position in China Automotive Systems in the 1st quarter worth about $63,000. 5.17% of the stock is owned by hedge funds and other institutional investors.

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 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 electronic and hydraulic power steering systems and parts.