China Yuchai International (NYSE:CYD) Shares Gap Up – Here’s Why

Shares of China Yuchai International Limited (NYSE:CYD) gapped up prior to trading on Tuesday . The stock had previously closed at $37.31, but opened at $39.27. China Yuchai International shares last traded at $39.9150, with a volume of 21,593 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on CYD. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of China Yuchai International in a research note on Monday, December 22nd. Wall Street Zen upgraded shares of China Yuchai International from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 16th. Zacks Research cut shares of China Yuchai International from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Finally, UBS Group assumed coverage on China Yuchai International in a report on Tuesday. They issued a “buy” rating and a $60.00 price target for the company. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, China Yuchai International has a consensus rating of “Hold” and a consensus price target of $60.00.

China Yuchai International Stock Up 4.3%

The stock’s fifty day simple moving average is $36.17 and its two-hundred day simple moving average is $32.84.

Hedge Funds Weigh In On China Yuchai International

Hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in China Yuchai International during the 3rd quarter worth approximately $28,000. Global Retirement Partners LLC acquired a new stake in shares of China Yuchai International in the third quarter worth $42,000. Quantbot Technologies LP acquired a new stake in shares of China Yuchai International in the second quarter worth $48,000. Advisory Services Network LLC purchased a new position in shares of China Yuchai International in the 3rd quarter valued at $66,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of China Yuchai International during the 3rd quarter valued at $83,000.

China Yuchai International Company Profile

China Yuchai International Ltd. (NYSE: CYD) is a Cayman Islands–incorporated holding company with principal executive offices in Singapore. Through its subsidiaries, the company is a leading manufacturer and distributor of diesel engines in the People’s Republic of China. Its principal operating subsidiary, Guangxi Yuchai Machinery Company Limited (GYMCL), has been producing diesel engines since 1951 and ranks among the country’s largest heavy-duty engine makers.

The company’s core product portfolio includes high-speed and medium-speed diesel engines for on-highway trucks and buses, off-road vehicles such as construction and agricultural machinery, marine propulsion systems, and power generator sets.