China Automotive Systems (NASDAQ:CAAS) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• China Automotive Systems' shares surpassed their 200-day moving average during trading, reaching a high of $4.23 before closing at $4.11.
• Wall Street Zen upgraded the company's rating from "hold" to "buy" on May 19th, reflecting positive market sentiment.
• The company reported earnings of $0.24 per share for the last quarter, with a market capitalization of $124 million and a P/E ratio of 4.28.

China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.17 and traded as high as $4.23. China Automotive Systems shares last traded at $4.11, with a volume of 37,730 shares.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded China Automotive Systems from a "hold" rating to a "buy" rating in a research note on Monday, May 19th.

China Automotive Systems Stock Up 1.1%

The stock's fifty day simple moving average is $4.19 and its 200-day simple moving average is $4.17. The company has a market capitalization of $119.93 million, a PE ratio of 4.14 and a beta of 2.58.

China Automotive Systems (NASDAQ:CAAS - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The auto parts company reported $0.24 earnings per share (EPS) for the quarter. China Automotive Systems had a return on equity of 7.33% and a net margin of 4.25%.

Institutional Trading of China Automotive Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its holdings in shares of China Automotive Systems by 4.8% during the fourth quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company's stock worth $1,726,000 after purchasing an additional 19,100 shares during the last quarter. Two Sigma Securities LLC purchased a new position in China Automotive Systems in the fourth quarter valued at about $86,000. Bridgeway Capital Management LLC raised 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 buying an additional 7,119 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of China Automotive Systems by 18.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 126,280 shares of the auto parts company's stock worth $558,000 after purchasing an additional 19,694 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in China Automotive Systems in the 1st quarter valued at about $57,000. Hedge funds and other institutional investors own 5.17% of the company's stock.

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.