China Automotive Systems, Inc. (NASDAQ:CAAS – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $4.55 and traded as high as $5.13. China Automotive Systems shares last traded at $5.07, with a volume of 11,771 shares changing hands.
Wall Street Analyst Weigh In
Separately, Weiss Ratings raised shares of China Automotive Systems from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 31st. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy”.
Check Out Our Latest Stock Analysis on CAAS
China Automotive Systems Price Performance
China Automotive Systems (NASDAQ:CAAS – Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The auto parts company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.42. The business had revenue of $206.23 million during the quarter, compared to the consensus estimate of $118.18 million. China Automotive Systems had a return on equity of 10.58% and a net margin of 5.59%.
China Automotive Systems Company Profile
China Automotive Systems, Inc (NASDAQ: CAAS) is an automotive components manufacturer headquartered in Jingzhou, Hubei Province, China. Through its subsidiaries, the company designs, develops, manufactures and sells automotive steering systems and related components for vehicle manufacturers and the automotive aftermarket.
Its product portfolio includes hydraulic power steering systems, electric power steering systems, steering columns, steering gears and other steering components. The company serves manufacturers of passenger vehicles, commercial vehicles and other automobiles, including customers in China and international markets.
China Automotive Systems was established in 2003 and has developed its business primarily through manufacturing operations in China.
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