China Automotive Systems (NASDAQ:CAAS) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

China Automotive Systems, Inc. (NASDAQ:CAAS)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.35 and traded as high as $4.73. China Automotive Systems shares last traded at $4.73, with a volume of 85,354 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of China Automotive Systems in a report on Wednesday, May 6th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

China Automotive Systems Price Performance

The company has a 50-day simple moving average of $4.33 and a two-hundred day simple moving average of $4.35. The stock has a market capitalization of $142.70 million, a price-to-earnings ratio of 3.33 and a beta of 1.03.

China Automotive Systems (NASDAQ:CAAS) last announced its quarterly earnings results on Wednesday, April 22nd. The auto parts company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.54. The company had revenue of $229.19 million during the quarter, compared to the consensus estimate of $118.18 million. China Automotive Systems had a net margin of 5.59% and a return on equity of 10.58%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC increased its stake 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. Bridgeway Capital Management LLC boosted its position in shares of 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 buying an additional 8,547 shares during the period. Virtu Financial LLC bought a new position in China Automotive Systems in the 3rd quarter worth approximately $86,000. Citadel Advisors LLC bought a new position in China Automotive Systems in the 3rd quarter worth approximately $213,000. Finally, XTX Topco Ltd acquired a new stake in China Automotive Systems in the 4th quarter valued at approximately $47,000. 5.17% of the stock is owned by institutional investors and hedge funds.

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.