China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.82 and traded as high as $4.71. China Automotive Systems shares last traded at $4.64, with a volume of 86,002 shares.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered China Automotive Systems from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 14th.
Get Our Latest Stock Report on CAAS
China Automotive Systems Trading Up 2.2 %
The company has a market cap of $140.00 million, a price-to-earnings ratio of 3.93 and a beta of 2.45. The stock's 50-day moving average is $4.02 and its 200-day moving average is $3.83.
China Automotive Systems (NASDAQ:CAAS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The auto parts company reported $0.24 earnings per share for the quarter. The firm had revenue of $158.61 million for the quarter. China Automotive Systems had a net margin of 6.02% and a return on equity of 9.50%.
Institutional Investors Weigh In On China Automotive Systems
A number of hedge funds have recently added to or reduced their stakes in CAAS. American Century Companies Inc. acquired a new position in shares of China Automotive Systems during the second quarter valued at about $36,000. Empowered Funds LLC increased its holdings 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 worth $427,000 after purchasing an additional 9,100 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of 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 purchasing an additional 6,900 shares during the last quarter. Institutional investors and hedge funds own 5.17% of the company's stock.
China Automotive Systems Company Profile
(
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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.
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