China Automotive Systems (NASDAQ:CAAS) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

China Automotive Systems, Inc. (NASDAQ:CAAS) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 changing hands.

Analysts Set New Price Targets

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

China Automotive Systems Trading Down 0.7%

The business has a fifty day simple moving average of $4.45 and a two-hundred day simple moving average of $4.36. The company has a market cap of $134.86 million, a PE ratio of 4.03 and a beta of 0.96.

Institutional Trading of China Automotive Systems

Several large investors have recently bought and sold shares of CAAS. Virtu Financial LLC acquired a new stake in China Automotive Systems in the 3rd quarter valued at about $86,000. Citadel Advisors LLC purchased a new stake in shares of China Automotive Systems in the third quarter valued at approximately $213,000. Empowered Funds LLC increased its holdings in shares of China Automotive Systems by 8.6% in the first quarter. Empowered Funds LLC now owns 156,258 shares of the auto parts company’s stock valued at $691,000 after purchasing an additional 12,402 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in 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 worth $1,229,000 after buying an additional 8,547 shares in the last quarter. Hedge funds and other institutional investors own 5.17% of the company’s stock.

About China Automotive Systems

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.