China Automotive Systems (NASDAQ:CAAS) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• China Automotive Systems shares briefly crossed above their 200-day moving average of $4.44, reaching $4.47 before last trading at $4.33 on volume of 15,599 shares.
• Weiss Ratings upgraded the stock from “hold (c)” to “hold (c+),” but the broader analyst consensus remains Hold, with one analyst covering the company.
• CAAS has a market capitalization of approximately $130.6 million, a P/E ratio of 3.05, and institutional investors own 5.17% of its shares; several investment firms recently initiated or increased positions.

China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.44 and traded as high as $4.47. China Automotive Systems shares last traded at $4.33, with a volume of 15,599 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of China Automotive Systems from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold".

China Automotive Systems Stock Performance

The stock has a market capitalization of $130.64 million, a P/E ratio of 3.05 and a beta of 1.02. The stock has a 50-day moving average price of $4.47 and a two-hundred day moving average price of $4.44.

Institutional Trading of China Automotive Systems

Large investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new position in China Automotive Systems in the 4th quarter worth $47,000. Virtu Financial LLC bought a new stake in shares of China Automotive Systems during the 3rd quarter valued at about $86,000. Citadel Advisors LLC bought a new stake in shares of China Automotive Systems during the 3rd quarter valued at about $213,000. Empowered Funds LLC increased its position 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 period. Finally, Bridgeway Capital Management LLC raised its stake in 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 worth $1,229,000 after buying an additional 8,547 shares in the last quarter. Institutional investors own 5.17% of the company's stock.

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.

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