China Automotive Systems (NASDAQ:CAAS) Share Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Shares of China Automotive Systems, Inc. (NASDAQ:CAAS) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $4.58 and traded as high as $4.89. China Automotive Systems shares last traded at $4.80, with a volume of 6,680 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of China Automotive Systems from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

China Automotive Systems Trading Down 2.6%

The company has a market cap of $140.74 million, a price-to-earnings ratio of 3.29 and a beta of 1.09. The company has a fifty day moving average price of $4.89 and a two-hundred day moving average price of $4.59.

China Automotive Systems (NASDAQ:CAAS) last issued its earnings results on Thursday, August 13th. The auto parts company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.07 by $0.42. The firm had revenue of $206.23 million during the quarter, compared to the consensus estimate of $118.18 million.

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.