China Automotive Systems (NASDAQ:CAAS) Shares Pass Above 200-Day Moving Average – Should You Sell?

China Automotive Systems, Inc. (NASDAQ:CAAS)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.89 and traded as high as $4.58. China Automotive Systems shares last traded at $4.41, with a volume of 82,472 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com cut China Automotive Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 14th.

China Automotive Systems Stock Performance

The business’s fifty day simple moving average is $4.18 and its 200-day simple moving average is $3.89. The firm has a market capitalization of $130.71 million, a PE ratio of 4.05 and a beta of 2.45.

China Automotive Systems (NASDAQ:CAAS) last posted its quarterly earnings data on Tuesday, August 13th. The auto parts company reported $0.24 EPS for the quarter. China Automotive Systems had a net margin of 5.12% and a return on equity of 8.24%. The company had revenue of $158.61 million during the quarter.

Hedge Funds Weigh In On China Automotive Systems

A number of institutional investors have recently modified their holdings of CAAS. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of China Automotive Systems by 14.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,102 shares of the auto parts company’s stock worth $401,000 after purchasing an additional 11,197 shares during the period. Empowered Funds LLC boosted its position in China Automotive Systems by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 136,737 shares of the auto parts company’s stock valued at $629,000 after acquiring an additional 6,968 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of China Automotive Systems by 1.7% in the 2nd quarter. Renaissance Technologies LLC now owns 419,994 shares of the auto parts company’s stock valued at $1,491,000 after acquiring an additional 6,900 shares during the period. Finally, American Century Companies Inc. bought a new position in shares of China Automotive Systems in the 2nd quarter worth $36,000. 5.17% of the stock is owned by hedge funds and other institutional investors.

About China Automotive Systems

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.