China Automotive Systems (NASDAQ:CAAS) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

China Automotive Systems, Inc. (NASDAQ:CAAS)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.39 and traded as high as $4.50. China Automotive Systems shares last traded at $4.46, with a volume of 13,074 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded China Automotive Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

China Automotive Systems Price Performance

The company has a market cap of $139.39 million, a price-to-earnings ratio of 3.25 and a beta of 1.03. The business’s fifty day moving average price is $4.48 and its 200 day moving average price is $4.40.

China Automotive Systems (NASDAQ:CAAS) last posted its quarterly earnings data on Wednesday, April 22nd. The auto parts company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.54. The business had revenue of $229.19 million during the quarter, compared to the consensus estimate of $118.18 million. China Automotive Systems had a return on equity of 10.58% and a net margin of 5.59%.

Hedge Funds Weigh In On China Automotive Systems

A number of hedge funds have recently made changes to their positions in CAAS. Bridgeway Capital Management LLC lifted its stake in shares of China Automotive Systems by 2.9% in the second quarter. Bridgeway Capital Management LLC now owns 301,155 shares of the auto parts company’s stock worth $1,229,000 after acquiring an additional 8,547 shares during the period. Empowered Funds LLC increased its position in China Automotive Systems by 8.6% during the 1st 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. Citadel Advisors LLC acquired a new stake in China Automotive Systems during the 3rd quarter valued at approximately $213,000. Virtu Financial LLC bought a new position in China Automotive Systems during the 3rd quarter worth approximately $86,000. Finally, XTX Topco Ltd bought a new position in China Automotive Systems during the 4th quarter worth approximately $47,000. 5.17% of the stock is currently 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.