China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $4.43 and traded as high as $4.55. China Automotive Systems shares last traded at $4.42, with a volume of 15,738 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings raised China Automotive Systems from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold".
Read Our Latest Stock Analysis on China Automotive Systems
China Automotive Systems Trading Down 2.2%
The firm has a market cap of $133.35 million, a price-to-earnings ratio of 3.11 and a beta of 1.04. The firm's 50-day moving average is $4.43 and its 200-day moving average is $4.43.
Hedge Funds Weigh In On China Automotive Systems
Several large investors have recently added to or reduced their stakes in CAAS. Citadel Advisors LLC purchased a new stake in shares of China Automotive Systems in the third quarter valued at about $213,000. Virtu Financial LLC purchased a new position in China Automotive Systems during the third quarter worth about $86,000. Empowered Funds LLC grew its position in 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 purchasing an additional 12,402 shares in the last quarter. XTX Topco Ltd bought a new stake in China Automotive Systems in the 4th quarter worth about $47,000. Finally, Bridgeway Capital Management LLC increased its stake in China Automotive Systems by 2.9% in the 2nd 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. Institutional investors own 5.17% of the company's stock.
About China Automotive Systems
(
Get Free Report)
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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