China Automotive Systems (NASDAQ:CAAS) Share Price Crosses Above 200-Day Moving Average of $3.42

China Automotive Systems, Inc. (NASDAQ:CAAS)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.42 and traded as high as $3.63. China Automotive Systems shares last traded at $3.55, with a volume of 129,668 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of China Automotive Systems from a “strong-buy” rating to a “buy” rating in a report on Monday, March 18th.

China Automotive Systems Trading Up 5.3 %

The company has a market capitalization of $107.17 million, a P/E ratio of 3.45 and a beta of 2.44. The business’s fifty day moving average price is $3.37 and its 200 day moving average price is $3.42.

Institutional Investors Weigh In On China Automotive Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAAS. Renaissance Technologies LLC grew its holdings in China Automotive Systems by 30.9% during the first quarter. Renaissance Technologies LLC now owns 475,639 shares of the auto parts company’s stock valued at $2,488,000 after purchasing an additional 112,145 shares during the period. Millennium Management LLC lifted its stake in China Automotive Systems by 169.0% in the fourth quarter. Millennium Management LLC now owns 304,388 shares of the auto parts company’s stock valued at $1,765,000 after buying an additional 191,215 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in China Automotive Systems by 4.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 257,659 shares of the auto parts company’s stock valued at $832,000 after buying an additional 9,984 shares in the last quarter. GSA Capital Partners LLP lifted its stake in China Automotive Systems by 34.8% in the fourth quarter. GSA Capital Partners LLP now owns 99,017 shares of the auto parts company’s stock valued at $320,000 after buying an additional 25,570 shares in the last quarter. Finally, Two Sigma Investments LP bought a new position in China Automotive Systems in the first quarter valued at approximately $359,000. Institutional investors and hedge funds own 5.17% of the company’s stock.

China Automotive Systems Company Profile

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