China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.45 and traded as high as $5.07. China Automotive Systems shares last traded at $4.99, with a volume of 31,017 shares trading hands.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a "hold (c+)" rating on shares of China Automotive Systems in a research note on Monday, August 17th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, China Automotive Systems has a consensus rating of "Hold".
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China Automotive Systems Trading Down 0.8%
The company has a market capitalization of $150.55 million, a P/E ratio of 3.51 and a beta of 1.04. The company has a 50 day moving average price of $4.52 and a 200 day moving average price of $4.45.
China Automotive Systems (NASDAQ:CAAS - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The auto parts company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.42. China Automotive Systems had a return on equity of 10.58% and a net margin of 5.59%.The business had revenue of $206.23 million for the quarter, compared to analysts' expectations of $118.18 million.
Hedge Funds Weigh In On China Automotive Systems
Large investors have recently modified their holdings of the stock. XTX Topco Ltd acquired a new stake in shares of China Automotive Systems during the 4th quarter worth about $47,000. Citadel Advisors LLC acquired a new position in China Automotive Systems in the 3rd quarter valued at about $213,000. Virtu Financial LLC bought a new position in China Automotive Systems in the 3rd quarter valued at about $86,000. Bridgeway Capital Management LLC raised its holdings 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 acquiring an additional 8,547 shares during the period. Finally, Empowered Funds LLC lifted its position 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. 5.17% of the stock is owned by 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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