China Automotive Systems (NASDAQ:CAAS) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

China Automotive Systems, Inc. (NASDAQ:CAAS)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.16 and traded as high as $4.35. China Automotive Systems shares last traded at $4.30, with a volume of 41,144 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised China Automotive Systems from a “hold” rating to a “buy” rating in a report on Monday, May 19th.

China Automotive Systems Trading Up 1.9%

The company’s 50-day moving average is $3.95 and its 200 day moving average is $4.16. The firm has a market cap of $129.74 million, a PE ratio of 4.10 and a beta of 2.57.

China Automotive Systems (NASDAQ:CAAS) last posted its quarterly earnings data on Wednesday, May 14th. The auto parts company reported $0.24 earnings per share for the quarter. China Automotive Systems had a net margin of 5.12% and a return on equity of 8.22%.

Hedge Funds Weigh In On China Automotive Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAAS. Virtu Financial LLC purchased a new position in China Automotive Systems during the 1st quarter worth approximately $57,000. Two Sigma Securities LLC purchased a new position in shares of China Automotive Systems during the 4th quarter valued at $86,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of China Automotive Systems by 22.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,586 shares of the auto parts company’s stock valued at $437,000 after acquiring an additional 19,484 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of China Automotive Systems by 5.2% during the 4th quarter. Empowered Funds LLC now owns 143,856 shares of the auto parts company’s stock valued at $590,000 after acquiring an additional 7,119 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in shares of China Automotive Systems by 2.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 280,206 shares of the auto parts company’s stock valued at $1,149,000 after acquiring an additional 7,119 shares in the last quarter. 5.17% of the stock is currently owned by hedge funds and other institutional investors.

China Automotive Systems Company Profile

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.