China Automotive Systems (NASDAQ:CAAS) Stock Price Crosses Above 200 Day Moving Average of $3.41

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 $3.41 and traded as high as $3.56. China Automotive Systems shares last traded at $3.46, with a volume of 63,451 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised China Automotive Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 29th.

China Automotive Systems Stock Up 2.6 %

The stock has a fifty day moving average of $3.47 and a 200-day moving average of $3.41. The firm has a market capitalization of $107.17 million, a P/E ratio of 2.84 and a beta of 2.47.

China Automotive Systems (NASDAQ:CAAS) last posted its quarterly earnings data on Thursday, March 28th. The auto parts company reported $0.36 EPS for the quarter. China Automotive Systems had a net margin of 6.53% and a return on equity of 10.84%. The company had revenue of $159.16 million during the quarter.

Institutional Investors Weigh In On China Automotive Systems

A hedge fund recently raised its stake in China Automotive Systems stock. Connor Clark & Lunn Investment Management Ltd. boosted its position in China Automotive Systems, Inc. (NASDAQ:CAAS) by 32.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,261 shares of the auto parts company’s stock after buying an additional 11,655 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.16% of China Automotive Systems worth $184,000 at the end of the most recent quarter. 5.17% of the stock is currently owned by 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.