China Automotive Systems (NASDAQ:CAAS) Stock Passes Above 200-Day Moving Average - What's Next?

Key Points

• China Automotive Systems (NASDAQ:CAAS) stock has recently surpassed its 200-day moving average, reaching a high of $4.50 before settling at $4.41.
• Wall Street analysts hold a consensus rating of "Hold" on the stock, with Weiss Ratings restating a "hold (c+)" rating.
• The company reported a Q2 earnings per share of $0.25, and institutional investors have increased their holdings in the company, with recent adjustments from multiple hedge funds.

China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.20 and traded as high as $4.50. China Automotive Systems shares last traded at $4.41, with a volume of 27,010 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "hold (c+)" rating on shares of China Automotive Systems in a research report on Wednesday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, China Automotive Systems currently has a consensus rating of "Hold".

China Automotive Systems Stock Down 1.3%

The company has a 50-day simple moving average of $4.38 and a two-hundred day simple moving average of $4.20. The stock has a market cap of $133.05 million, a P/E ratio of 4.55 and a beta of 2.78.

China Automotive Systems (NASDAQ:CAAS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The auto parts company reported $0.25 earnings per share for the quarter. China Automotive Systems had a return on equity of 7.39% and a net margin of 4.22%.The firm had revenue of $176.24 million during the quarter. China Automotive Systems has set its FY 2025 guidance at EPS.

Hedge Funds Weigh In On China Automotive Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bridgeway Capital Management LLC raised its holdings in shares of China Automotive Systems by 2.9% during the second quarter. Bridgeway Capital Management LLC now owns 301,155 shares of the auto parts company's stock valued at $1,229,000 after acquiring an additional 8,547 shares in the last quarter. Empowered Funds LLC raised its holdings 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 acquiring an additional 12,402 shares in the last quarter. Virtu Financial LLC bought a new position in shares of China Automotive Systems during the first quarter valued at approximately $57,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 valued at $558,000 after acquiring an additional 19,694 shares in the last quarter. 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.

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