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

China Automotive Systems, Inc. (NASDAQ:CAAS) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.82 and traded as high as $4.71. China Automotive Systems shares last traded at $4.64, with a volume of 86,002 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of China Automotive Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 14th.

China Automotive Systems Trading Up 2.2 %

The company has a 50 day moving average of $4.02 and a 200-day moving average of $3.83. The firm has a market capitalization of $140.00 million, a P/E ratio of 3.93 and a beta of 2.45.

China Automotive Systems (NASDAQ:CAAS) last posted its earnings results on Tuesday, August 13th. The auto parts company reported $0.24 earnings per share for the quarter. The company had revenue of $158.61 million during the quarter. China Automotive Systems had a return on equity of 9.50% and a net margin of 6.02%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CAAS. American Century Companies Inc. acquired a new stake in shares of China Automotive Systems during the 2nd quarter worth $36,000. Empowered Funds LLC grew its stake in China Automotive Systems by 8.2% during the first quarter. Empowered Funds LLC now owns 120,409 shares of the auto parts company’s stock worth $427,000 after buying an additional 9,100 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in China Automotive Systems by 1.7% during the second quarter. Renaissance Technologies LLC now owns 419,994 shares of the auto parts company’s stock worth $1,491,000 after buying an additional 6,900 shares in the last quarter. Institutional investors and hedge funds own 5.17% of the company’s stock.

China Automotive Systems Company Profile

China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China, the United States, and internationally. It produces rack and pinion power steering gears for cars and light-duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronics and systems and parts.