China Automotive Systems (NASDAQ:CAAS) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

China Automotive Systems, Inc. (NASDAQ:CAAS)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of China Automotive Systems in a research report on Monday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

China Automotive Systems Trading Up 2.4%

The business’s 50 day moving average is $4.46 and its 200 day moving average is $4.43. The stock has a market capitalization of $140.89 million, a PE ratio of 3.29 and a beta of 1.04.

China Automotive Systems (NASDAQ:CAAS) last issued its quarterly earnings results on Thursday, August 13th. The auto parts company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.07 by $0.42. The company had revenue of $206.23 million for the quarter, compared to the consensus estimate of $118.18 million. China Automotive Systems had a net margin of 5.59% and a return on equity of 10.58%.

Institutional Investors Weigh In On China Automotive Systems

Institutional investors and hedge funds have recently modified their holdings of the business. Bridgeway Capital Management LLC boosted its holdings in China Automotive Systems by 2.9% during 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. XTX Topco Ltd purchased a new stake in shares of China Automotive Systems during the fourth quarter valued at $47,000. Empowered Funds LLC boosted its stake 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 purchasing an additional 12,402 shares during the period. Virtu Financial LLC bought a new position in shares of China Automotive Systems in the third quarter worth about $86,000. Finally, Citadel Advisors LLC purchased a new position in China Automotive Systems in the 3rd quarter worth about $213,000. 5.17% of the stock is owned by institutional investors.

China Automotive Systems Company Profile

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.