China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.43 and traded as high as $4.70. China Automotive Systems shares last traded at $4.56, with a volume of 30,205 shares changing hands.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of China Automotive Systems in a research report on Monday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold".
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China Automotive Systems Stock Down 4.6%
The business's fifty day moving average is $4.46 and its two-hundred day moving average is $4.43. The stock has a market capitalization of $137.58 million, a PE ratio of 3.21 and a beta of 1.04.
China Automotive Systems (NASDAQ:CAAS - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The auto parts company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.42. China Automotive Systems had a net margin of 5.59% and a return on equity of 10.58%. The company had revenue of $206.23 million for the quarter, compared to analysts' expectations of $118.18 million.
Institutional Trading of China Automotive Systems
Several hedge funds have recently made changes to their positions in the business. Bridgeway Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 8,547 shares during the last quarter. Empowered Funds LLC increased its stake in 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 worth $691,000 after acquiring an additional 12,402 shares during the last quarter. Citadel Advisors LLC purchased a new stake in China Automotive Systems during the third quarter valued at approximately $213,000. Virtu Financial LLC purchased a new stake in China Automotive Systems during the third quarter valued at approximately $86,000. Finally, XTX Topco Ltd bought a new stake in shares of China Automotive Systems in the 4th quarter valued at approximately $47,000. 5.17% of the stock is currently owned by hedge funds and other institutional investors.
China Automotive Systems Company Profile
(
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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.
Further Reading
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