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

China Automotive Systems, Inc. (NASDAQ:CAAS)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.33 and traded as high as $4.59. China Automotive Systems shares last traded at $4.54, with a volume of 15,303 shares changing hands.

China Automotive Systems Price Performance

The company has a market cap of $136.97 million, a P/E ratio of 3.20 and a beta of 1.03. The stock’s 50-day moving average is $4.29 and its two-hundred day moving average is $4.33.

China Automotive Systems (NASDAQ:CAAS) last issued its quarterly earnings data on Wednesday, April 22nd. The auto parts company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.54. The company had revenue of $229.19 million for the quarter, compared to the consensus estimate of $118.18 million. China Automotive Systems had a net margin of 5.59% and a return on equity of 10.58%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 valued at $1,229,000 after purchasing an additional 8,547 shares during the period. Empowered Funds LLC increased its holdings in 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 valued at $691,000 after buying an additional 12,402 shares during the last quarter. Citadel Advisors LLC purchased a new stake in China Automotive Systems during the third quarter valued at approximately $213,000. Virtu Financial LLC purchased a new stake in China Automotive Systems during the third quarter valued at approximately $86,000. Finally, XTX Topco Ltd purchased a new stake in China Automotive Systems during the fourth quarter valued at approximately $47,000. 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.