China Yuchai International (NYSE:CYD) Shares Gap Down – Here’s What Happened

China Yuchai International Limited (NYSE:CYD)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $55.03, but opened at $49.28. China Yuchai International shares last traded at $50.0010, with a volume of 156,922 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of China Yuchai International in a report on Monday, December 22nd. UBS Group began coverage on shares of China Yuchai International in a research note on Tuesday, January 6th. They issued a “buy” rating and a $60.00 price objective for the company. Zacks Research upgraded China Yuchai International from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Finally, Wall Street Zen upgraded China Yuchai International from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 16th. Two research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $60.00.

China Yuchai International Price Performance

The business has a 50-day moving average price of $43.86 and a 200-day moving average price of $38.68.

Hedge Funds Weigh In On China Yuchai International

Several hedge funds have recently bought and sold shares of the company. UBS Group AG lifted its holdings in China Yuchai International by 752.8% during the 3rd quarter. UBS Group AG now owns 849,464 shares of the company’s stock worth $35,142,000 after buying an additional 749,861 shares in the last quarter. Millennium Management LLC boosted its holdings in China Yuchai International by 157.3% in the third quarter. Millennium Management LLC now owns 720,231 shares of the company’s stock valued at $29,796,000 after purchasing an additional 440,278 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of China Yuchai International by 3.4% in the 4th quarter. Renaissance Technologies LLC now owns 278,494 shares of the company’s stock valued at $9,887,000 after buying an additional 9,287 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of China Yuchai International by 73.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,141 shares of the company’s stock worth $9,728,000 after purchasing an additional 99,260 shares during the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in China Yuchai International during the second quarter worth approximately $4,759,000.

About China Yuchai International

China Yuchai International Ltd. (NYSE: CYD) is a Cayman Islands–incorporated holding company with principal executive offices in Singapore. Through its subsidiaries, the company is a leading manufacturer and distributor of diesel engines in the People’s Republic of China. Its principal operating subsidiary, Guangxi Yuchai Machinery Company Limited (GYMCL), has been producing diesel engines since 1951 and ranks among the country’s largest heavy-duty engine makers.

The company’s core product portfolio includes high-speed and medium-speed diesel engines for on-highway trucks and buses, off-road vehicles such as construction and agricultural machinery, marine propulsion systems, and power generator sets.