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China Automotive Systems (NASDAQ:CAAS) Share Price Passes Above 200 Day Moving Average - Time to Sell?

China Automotive Systems logo with Auto/Tires/Trucks background

Shares of China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.17 and traded as high as $4.24. China Automotive Systems shares last traded at $4.06, with a volume of 19,362 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of China Automotive Systems from a "hold" rating to a "buy" rating in a research report on Monday, May 19th.

Check Out Our Latest Report on CAAS

China Automotive Systems Trading Up 0.5%

The company has a market cap of $127.93 million, a P/E ratio of 4.04 and a beta of 2.57. The stock's 50-day moving average price is $3.94 and its 200-day moving average price is $4.16.

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

Institutional Investors Weigh In On China Automotive Systems

A number of institutional investors and hedge funds have recently made changes to their positions in CAAS. Two Sigma Securities LLC acquired a new stake in shares of China Automotive Systems in the 4th quarter worth about $86,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of China Automotive Systems by 18.5% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 126,280 shares of the auto parts company's stock worth $558,000 after acquiring an additional 19,694 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of China Automotive Systems by 4.8% in the 4th quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company's stock worth $1,726,000 after acquiring an additional 19,100 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of China Automotive Systems in the 1st quarter worth about $57,000. Finally, Empowered Funds LLC raised its holdings in shares of China Automotive Systems by 8.6% in the 1st 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. Institutional investors and hedge funds own 5.17% of the company's stock.

China Automotive Systems Company Profile

(Get Free Report)

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.

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