China Automotive Systems (NASDAQ:CAAS) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of China Automotive Systems, Inc. (NASDAQ:CAAS) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.52 and traded as high as $5.47. China Automotive Systems shares last traded at $5.28, with a volume of 12,695 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of China Automotive Systems from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 31st. One research analyst has rated the stock with a Buy rating, According to MarketBeat, China Automotive Systems currently has a consensus rating of “Buy”.

China Automotive Systems Trading Down 2.0%

The firm has a market cap of $155.83 million, a P/E ratio of 3.64 and a beta of 1.09. The business’s fifty day moving average price is $4.75 and its two-hundred day moving average price is $4.53.

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

China Automotive Systems Company Profile

China Automotive Systems, Inc (NASDAQ: CAAS) is an automotive components manufacturer headquartered in Jingzhou, Hubei Province, China. Through its subsidiaries, the company designs, develops, manufactures and sells automotive steering systems and related components for vehicle manufacturers and the automotive aftermarket.

Its product portfolio includes hydraulic power steering systems, electric power steering systems, steering columns, steering gears and other steering components. The company serves manufacturers of passenger vehicles, commercial vehicles and other automobiles, including customers in China and international markets.

China Automotive Systems was established in 2003 and has developed its business primarily through manufacturing operations in China.