China Automotive Systems (NASDAQ:CAAS) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

China Automotive Systems, Inc. (NASDAQ:CAAS)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.43 and traded as high as $4.47. China Automotive Systems shares last traded at $4.35, with a volume of 5,126 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of China Automotive Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, China Automotive Systems presently has an average rating of “Hold”.

China Automotive Systems Price Performance

The company has a market cap of $131.24 million, a price-to-earnings ratio of 3.06 and a beta of 1.02. The stock has a 50-day moving average price of $4.53 and a 200 day moving average price of $4.43.

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

Institutional Investors Weigh In On China Automotive Systems

Several large investors have recently made changes to their positions in CAAS. Citadel Advisors LLC acquired a new position in shares of China Automotive Systems during the third quarter worth about $213,000. Virtu Financial LLC acquired a new stake in China Automotive Systems in the 3rd quarter valued at approximately $86,000. Empowered Funds LLC raised its position in China Automotive Systems by 8.6% in the 1st quarter. Empowered Funds LLC now owns 156,258 shares of the auto parts company’s stock valued at $691,000 after buying an additional 12,402 shares during the last quarter. XTX Topco Ltd acquired a new stake in China Automotive Systems in the 4th quarter valued at approximately $47,000. Finally, Bridgeway Capital Management LLC lifted its stake 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 in the last quarter. Institutional investors own 5.17% of the company’s stock.

About China Automotive Systems

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.