China Automotive Systems (NASDAQ:CAAS) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

China Automotive Systems, Inc. (NASDAQ:CAAS) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.45 and traded as high as $5.07. China Automotive Systems shares last traded at $4.99, with a volume of 31,017 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of China Automotive Systems in a research note on Monday, August 17th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

China Automotive Systems Stock Performance

The company has a fifty day simple moving average of $4.52 and a 200 day simple moving average of $4.45. The stock has a market capitalization of $150.55 million, a price-to-earnings ratio of 3.51 and a beta of 1.04.

China Automotive Systems (NASDAQ:CAAS) last issued its quarterly earnings data on Thursday, August 13th. The auto parts company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.42. The company had revenue of $206.23 million during the quarter, compared to the consensus estimate of $118.18 million. China Automotive Systems had a return on equity of 10.58% and a net margin of 5.59%.

Institutional Trading of China Automotive Systems

Institutional investors have recently bought and sold shares of the company. Empowered Funds LLC grew its holdings in China Automotive Systems by 8.6% during the 1st quarter. Empowered Funds LLC now owns 156,258 shares of the auto parts company’s stock worth $691,000 after acquiring an additional 12,402 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of 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 purchasing an additional 8,547 shares during the period. Virtu Financial LLC acquired a new position in shares of China Automotive Systems in the 3rd quarter valued at about $86,000. Citadel Advisors LLC bought a new stake in shares of China Automotive Systems during the 3rd quarter valued at about $213,000. Finally, XTX Topco Ltd bought a new stake in shares of China Automotive Systems during the 4th quarter valued at about $47,000. 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.