China Automotive Systems (NASDAQ:CAAS) Shares Cross Above 200-Day Moving Average - What's Next?

China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.33 and traded as high as $4.59. China Automotive Systems shares last traded at $4.54, with a volume of 15,303 shares changing hands.

China Automotive Systems Stock Down 0.9%

The stock's fifty day moving average price is $4.29 and its 200 day moving average price is $4.33. The stock has a market cap of $136.97 million, a PE ratio of 3.20 and a beta of 1.03.

China Automotive Systems (NASDAQ:CAAS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The auto parts company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.54. China Automotive Systems had a net margin of 5.59% and a return on equity of 10.58%. The firm had revenue of $229.19 million for the quarter, compared to analysts' expectations of $118.18 million.

Institutional Investors Weigh In On China Automotive Systems

Institutional investors have recently made changes to their positions in the company. Bridgeway Capital Management LLC grew its holdings 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 valued at $1,229,000 after buying an additional 8,547 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of 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 valued at $691,000 after buying an additional 12,402 shares during the last quarter. Citadel Advisors LLC bought a new position in China Automotive Systems during the third quarter valued at approximately $213,000. Virtu Financial LLC bought a new position in China Automotive Systems during the third quarter valued at approximately $86,000. Finally, XTX Topco Ltd bought a new position in China Automotive Systems during the fourth quarter valued at approximately $47,000. Hedge funds and other institutional investors own 5.17% of the company's stock.

About China Automotive Systems

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.

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