China Automotive Systems (NASDAQ:CAAS) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

China Automotive Systems, Inc. (NASDAQ:CAAS)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.36 and traded as high as $4.57. China Automotive Systems shares last traded at $4.47, with a volume of 19,953 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of China Automotive Systems in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, China Automotive Systems presently has a consensus rating of “Hold”.

China Automotive Systems Trading Down 1.6%

The company has a 50-day moving average of $4.46 and a 200-day moving average of $4.37. The company has a market capitalization of $132.75 million, a price-to-earnings ratio of 3.96 and a beta of 0.96.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAAS. Virtu Financial LLC purchased a new stake in China Automotive Systems in the third quarter valued at $86,000. Citadel Advisors LLC acquired a new position in shares of China Automotive Systems in the 3rd quarter valued at about $213,000. Empowered Funds LLC lifted its holdings in shares of 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 period. Finally, Bridgeway Capital Management LLC boosted 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 buying an additional 8,547 shares during the last quarter. 5.17% of the stock is currently owned by institutional investors and hedge funds.

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.