China Automotive Systems (NASDAQ:CAAS) Share Price Passes Above 200-Day Moving Average – Time to Sell?

China Automotive Systems, Inc. (NASDAQ:CAAS)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Wall Street Analysts Forecast Growth

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 firm has a 50-day moving average price of $4.18 and a 200 day moving average price of $3.89. The stock has a market capitalization of $130.71 million, a P/E ratio of 4.05 and a beta of 2.45.

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

Hedge Funds Weigh In On China Automotive Systems

Several hedge funds have recently made changes to their positions in the business. American Century Companies Inc. purchased a new position in China Automotive Systems during the second quarter valued at $36,000. Connor Clark & Lunn Investment Management Ltd. grew its position in China Automotive Systems by 14.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,102 shares of the auto parts company’s stock valued at $401,000 after purchasing an additional 11,197 shares during the last quarter. Empowered Funds LLC increased its stake in China Automotive Systems by 8.2% during the 1st quarter. Empowered Funds LLC now owns 120,409 shares of the auto parts company’s stock valued at $427,000 after purchasing an additional 9,100 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in China Automotive Systems by 1.7% in the second quarter. Renaissance Technologies LLC now owns 419,994 shares of the auto parts company’s stock worth $1,491,000 after buying an additional 6,900 shares during the last quarter. 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.