China Automotive Systems (NASDAQ:CAAS) Stock Price Crosses Above Two Hundred Day Moving Average of $3.64

China Automotive Systems, Inc. (NASDAQ:CAAS)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.64 and traded as high as $3.64. China Automotive Systems shares last traded at $3.57, with a volume of 25,530 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com downgraded China Automotive Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 14th.

China Automotive Systems Stock Down 2.2 %

The firm has a market cap of $105.05 million, a price-to-earnings ratio of 2.70 and a beta of 2.44. The stock has a 50 day moving average of $3.76 and a 200 day moving average of $3.63.

China Automotive Systems (NASDAQ:CAAS) last released its earnings results on Tuesday, August 13th. The auto parts company reported $0.24 earnings per share (EPS) for the quarter. China Automotive Systems had a return on equity of 9.50% and a net margin of 6.02%. The firm had revenue of $158.61 million for the quarter.

China Automotive Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Tuesday, July 30th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 91.95%. The ex-dividend date was Tuesday, July 30th.

Institutional Trading of China Automotive Systems

Hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. bought a new stake in shares of China Automotive Systems during the second quarter worth about $36,000. Empowered Funds LLC grew its holdings in shares of China Automotive Systems by 8.2% during the first quarter. Empowered Funds LLC now owns 120,409 shares of the auto parts company’s stock worth $427,000 after purchasing an additional 9,100 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of China Automotive Systems by 1.7% during the second quarter. Renaissance Technologies LLC now owns 419,994 shares of the auto parts company’s stock worth $1,491,000 after purchasing an additional 6,900 shares during the last 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.