China Automotive Systems (NASDAQ:CAAS) Stock Passes Above 200 Day Moving Average – Here’s Why

China Automotive Systems, Inc. (NASDAQ:CAAS) shares crossed 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 $4.55. China Automotive Systems shares last traded at $4.42, with a volume of 15,738 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings raised 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, According to MarketBeat.com, China Automotive Systems presently has a consensus rating of “Hold”.

China Automotive Systems Trading Down 2.2%

The firm has a fifty day moving average of $4.43 and a two-hundred day moving average of $4.43. The company has a market cap of $133.35 million, a PE ratio of 3.11 and a beta of 1.04.

Institutional Trading of China Automotive Systems

Several institutional investors and hedge funds have recently made changes to their positions in CAAS. XTX Topco Ltd bought a new stake in shares of China Automotive Systems in the 4th quarter worth approximately $47,000. Citadel Advisors LLC purchased a new position in shares of China Automotive Systems in the third quarter valued at about $213,000. Virtu Financial LLC bought a new position in shares of China Automotive Systems during the third quarter valued at about $86,000. Bridgeway Capital Management LLC raised its stake in shares of China Automotive Systems by 2.9% during the second 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 during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of China Automotive Systems by 8.6% during the first quarter. Empowered Funds LLC now owns 156,258 shares of the auto parts company’s stock worth $691,000 after purchasing an additional 12,402 shares during the period. Hedge funds and other institutional investors own 5.17% of the company’s stock.

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.