China Automotive Systems (NASDAQ:CAAS) Shares Pass Above 200 Day Moving Average – Should You Sell?

China Automotive Systems, Inc. (NASDAQ:CAAS) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.44 and traded as high as $4.47. China Automotive Systems shares last traded at $4.33, with a volume of 15,599 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised China Automotive Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, China Automotive Systems presently has a consensus rating of “Hold”.

China Automotive Systems Stock Down 1.2%

The stock has a market cap of $129.13 million, a PE ratio of 3.01 and a beta of 1.02. The business’s 50-day simple moving average is $4.47 and its 200-day simple moving average is $4.44.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. XTX Topco Ltd bought a new position in China Automotive Systems during the 4th quarter valued at approximately $47,000. Citadel Advisors LLC bought a new stake in shares of China Automotive Systems in the 3rd quarter worth approximately $213,000. Virtu Financial LLC purchased a new position in shares of China Automotive Systems during the third quarter valued at approximately $86,000. Bridgeway Capital Management LLC increased its stake in shares of China Automotive Systems by 2.9% during the second quarter. Bridgeway Capital Management LLC now owns 301,155 shares of the auto parts company’s stock valued at $1,229,000 after buying an additional 8,547 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of China Automotive Systems by 8.6% during the first quarter. Empowered Funds LLC now owns 156,258 shares of the auto parts company’s stock valued at $691,000 after acquiring an additional 12,402 shares in the last quarter. Hedge funds and other institutional investors own 5.17% of the company’s stock.

About China Automotive Systems

China Automotive Systems, Inc (NASDAQ: CAAS) is a leading designer, manufacturer and marketer of power steering systems and related components primarily for the automotive industry in China. The company’s core business centers on hydraulic and electric power steering products, steering columns, steering gearboxes and electronic control units. By integrating research and development, manufacturing and sales, China Automotive Systems aims to deliver high-quality steering solutions that meet the performance and safety requirements of global automakers.

The company’s product portfolio includes traditional hydraulic power steering systems, which have long been favored for their reliability, as well as advanced electric power steering units that offer improved fuel efficiency and enhanced vehicle control.