China Automotive Systems (NASDAQ:CAAS) Share Price Passes Above 200-Day Moving Average of $3.41

China Automotive Systems, Inc. (NASDAQ:CAAS) 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 $3.70. China Automotive Systems shares last traded at $3.53, with a volume of 32,626 shares.

Wall Street Analyst Weigh In

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

China Automotive Systems Price Performance

The stock has a market capitalization of $107.78 million, a PE ratio of 2.86 and a beta of 2.45. The business has a 50 day moving average price of $3.44 and a 200 day moving average price of $3.41.

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

Institutional Investors Weigh In On China Automotive Systems

A hedge fund recently raised its stake in China Automotive Systems stock. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of China Automotive Systems, Inc. (NASDAQ:CAAS) by 32.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,261 shares of the auto parts company’s stock after buying an additional 11,655 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.16% of China Automotive Systems worth $184,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 5.17% of the company’s stock.

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, the United States, 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 electronics and systems and parts.