China Automotive Systems (NASDAQ:CAAS) Shares Cross Above 200-Day Moving Average of $3.49

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 $3.49 and traded as high as $3.58. China Automotive Systems shares last traded at $3.55, with a volume of 12,901 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of China Automotive Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 25th.

China Automotive Systems Stock Performance

The stock has a market capitalization of $107.17 million, a price-to-earnings ratio of 2.75 and a beta of 2.47. The firm’s fifty day simple moving average is $3.68 and its 200 day simple moving average is $3.49.

China Automotive Systems (NASDAQ:CAAS) last announced its earnings results on Tuesday, May 14th. The auto parts company reported $0.27 EPS for the quarter. China Automotive Systems had a net margin of 6.82% and a return on equity of 10.84%. The firm had revenue of $139.39 million for the quarter.

Institutional Trading of China Automotive Systems

An institutional investor recently raised its position in China Automotive Systems stock. Empowered Funds LLC grew its holdings in China Automotive Systems, Inc. (NASDAQ:CAAS) by 8.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 120,409 shares of the auto parts company’s stock after purchasing an additional 9,100 shares during the period. Empowered Funds LLC owned about 0.40% of China Automotive Systems worth $427,000 at the end of the most recent quarter. 5.17% of the stock is currently owned by institutional investors and hedge funds.

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.