China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 trading hands.
Wall Street Analyst Weigh In
Separately, Wall Street Zen raised shares of China Automotive Systems from a "hold" rating to a "buy" rating in a report on Monday, May 19th.
Get Our Latest Stock Analysis on China Automotive Systems
China Automotive Systems Stock Performance
The company has a market capitalization of $127.32 million, a price-to-earnings ratio of 4.02 and a beta of 2.57. The company's fifty day simple moving average is $3.94 and its two-hundred day simple moving average is $4.17.
China Automotive Systems (NASDAQ:CAAS - Get Free Report) last announced 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%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in CAAS. Two Sigma Securities LLC acquired a new position in China Automotive Systems during the 4th quarter worth $86,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in China Automotive Systems by 18.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 126,280 shares of the auto parts company's stock valued at $558,000 after buying an additional 19,694 shares during the period. Renaissance Technologies LLC grew its stake 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 purchasing an additional 19,100 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of China Automotive Systems in the 1st quarter worth approximately $57,000. Finally, Empowered Funds LLC increased its position in shares of China Automotive Systems by 8.6% in 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 in the last quarter. 5.17% of the stock is owned by institutional investors and hedge funds.
China Automotive Systems Company Profile
(
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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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