China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.21 and traded as high as $4.24. China Automotive Systems shares last traded at $4.09, with a volume of 36,246 shares changing hands.
Analysts Set New Price Targets
Separately, StockNews.com initiated coverage on China Automotive Systems in a report on Friday, April 11th. They issued a "hold" rating for the company.
Read Our Latest Stock Analysis on CAAS
China Automotive Systems Stock Down 1.7%
The firm has a market cap of $122.16 million, a price-to-earnings ratio of 3.82 and a beta of 2.61. The company's 50-day moving average price is $4.09 and its 200-day moving average price is $4.21.
China Automotive Systems (NASDAQ:CAAS - Get Free Report) last posted its earnings results on Wednesday, May 14th. The auto parts company reported $0.24 earnings per share for the quarter. China Automotive Systems had a return on equity of 8.22% and a net margin of 5.12%.
Institutional Investors Weigh In On China Automotive Systems
Large investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. grew its holdings in China Automotive Systems by 22.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,586 shares of the auto parts company's stock valued at $437,000 after buying an additional 19,484 shares during the last quarter. Empowered Funds LLC boosted its holdings in China Automotive Systems by 5.2% in the fourth quarter. Empowered Funds LLC now owns 143,856 shares of the auto parts company's stock valued at $590,000 after acquiring an additional 7,119 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in China Automotive Systems by 2.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 280,206 shares of the auto parts company's stock valued at $1,149,000 after acquiring an additional 7,119 shares during the last quarter. Two Sigma Securities LLC acquired a new position in China Automotive Systems in the fourth quarter valued at $86,000. Finally, Renaissance Technologies LLC raised its position in China Automotive Systems by 4.8% in the fourth quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company's stock valued at $1,726,000 after purchasing an additional 19,100 shares during the period. 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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