China Automotive Systems (NASDAQ:CAAS) Shares Pass Above Two Hundred Day Moving Average of $3.53

China Automotive Systems, Inc. (NASDAQ:CAASGet Rating)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.53 and traded as high as $6.06. China Automotive Systems shares last traded at $5.98, with a volume of 201,304 shares traded.

Analyst Ratings Changes

A number of brokerages have recently commented on CAAS. StockNews.com began coverage on China Automotive Systems in a research report on Wednesday, October 12th. They set a “strong-buy” rating for the company. TheStreet cut China Automotive Systems from a “b-” rating to a “c” rating in a research note on Monday, November 14th.

China Automotive Systems Price Performance

The stock has a 50 day simple moving average of $4.26 and a two-hundred day simple moving average of $3.53. The company has a market cap of $183.35 million, a PE ratio of 8.42 and a beta of 2.06.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in China Automotive Systems stock. Marshall Wace LLP acquired a new position in shares of China Automotive Systems, Inc. (NASDAQ:CAASGet Rating) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 48,480 shares of the auto parts company’s stock, valued at approximately $191,000. Marshall Wace LLP owned 0.16% of China Automotive Systems at the end of the most recent reporting period. 2.57% of the stock is currently owned by institutional investors and hedge funds.

About China Automotive Systems

(Get Rating)

China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China. 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 electronic and hydraulic power steering systems and parts.

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