China Automotive Systems (NASDAQ:CAAS) Shares Pass Above Two Hundred Day Moving Average – What’s Next?
by Sarita Garza · The Markets DailyChina Automotive Systems, Inc. (NASDAQ:CAAS – Get Free Report)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.41 and traded as high as $4.50. China Automotive Systems shares last traded at $4.46, with a volume of 5,163 shares.
Wall Street Analyst Weigh In
Separately, Weiss Ratings raised China Automotive Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.
Check Out Our Latest Stock Analysis on China Automotive Systems
China Automotive Systems Stock Performance
The firm has a 50 day moving average of $4.50 and a two-hundred day moving average of $4.41. The stock has a market capitalization of $134.56 million, a PE ratio of 3.14 and a beta of 1.03.
China Automotive Systems (NASDAQ:CAAS – Get Free Report) last posted its earnings results on Wednesday, April 22nd. The auto parts company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.54. The company had revenue of $229.19 million for 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 Investors Weigh In On China Automotive Systems
Large investors have recently added to or reduced their stakes in the business. Empowered Funds LLC raised its position in China Automotive Systems by 8.6% during the first 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 last quarter. Bridgeway Capital Management LLC grew its position in shares of China Automotive Systems by 2.9% in the second 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 last quarter. Virtu Financial LLC acquired a new stake in shares of China Automotive Systems in the third quarter valued at approximately $86,000. Citadel Advisors LLC acquired a new stake in shares of China Automotive Systems in the third quarter valued at approximately $213,000. Finally, XTX Topco Ltd purchased a new position in shares of China Automotive Systems during the 4th quarter worth 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.