China Yuchai International (NYSE:CYD) Shares Down 8% – Time to Sell?

China Yuchai International Limited (NYSE:CYD)’s share price traded down 8% during trading on Wednesday . The stock traded as low as $44.37 and last traded at $44.16. 369,524 shares changed hands during trading, an increase of 86% from the average session volume of 198,214 shares. The stock had previously closed at $47.99.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of China Yuchai International in a report on Monday, December 22nd. Zacks Research upgraded China Yuchai International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Wall Street Zen raised China Yuchai International from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 16th. Finally, UBS Group initiated 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 target on the stock. Two research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $60.00.

China Yuchai International Stock Performance

The business has a 50-day simple moving average of $44.11 and a two-hundred day simple moving average of $38.81.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. bought a new position in shares of China Yuchai International in the third quarter valued at $724,000. AdvisorShares Investments LLC bought a new stake in China Yuchai International during the third quarter worth $1,783,000. Matthews International Capital Management LLC acquired a new stake in China Yuchai International in the third quarter valued at $2,270,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of China Yuchai International by 70.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 135,881 shares of the company’s stock valued at $3,249,000 after acquiring an additional 56,085 shares during the period. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of China Yuchai International during the 2nd quarter worth about $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.