China Automotive Systems (NASDAQ:CAAS) Shares Cross Above 200 Day Moving Average of $5.70

China Automotive Systems, Inc. (NASDAQ:CAAS – Get Rating)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.70 and traded as high as $7.27. China Automotive Systems shares last traded at $7.14, with a volume of 127,506 shares.

Wall Street Analyst Weigh In

CAAS has been the subject of several analyst reports. StockNews.com upgraded China Automotive Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, February 3rd. Greenridge Global cut shares of China Automotive Systems from a “buy” rating to a “hold” rating in a report on Wednesday, December 14th. Finally, TheStreet lowered shares of China Automotive Systems from a “b-” rating to a “c” rating in a report on Monday, November 14th.

China Automotive Systems Price Performance

The firm has a 50-day moving average of $7.31 and a 200 day moving average of $5.70. The company has a market capitalization of $218.91 million, a PE ratio of 10.06 and a beta of 2.46.

Institutional Trading of China Automotive Systems

A number of institutional investors have recently made changes to their positions in CAAS. JPMorgan Chase & Co. bought a new position in China Automotive Systems during the fourth quarter valued at approximately $31,000. Kestra Advisory Services LLC bought a new position in shares of China Automotive Systems during the 4th quarter valued at $75,000. Jane Street Group LLC purchased a new position in shares of China Automotive Systems in the 4th quarter worth $132,000. Virtu Financial LLC bought a new stake in shares of China Automotive Systems in the fourth quarter worth $165,000. Finally, Marshall Wace LLP purchased a new stake in China Automotive Systems during the third quarter valued at $191,000. Hedge funds and other institutional investors own 3.00% of the company’s stock.

China Automotive Systems Company Profile

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China Automotive Systems, Inc is a holding company, which engages in the manufacture and sale of automotive products, through its subsidiaries. It operates through the following geographical segments: Henglong, Jiulong, Shenyang, Wuhu, Hubei Henglong, Henglong KYB, and Other Entities. It also supplies power steering systems and component.