SORL Auto Parts Inc. (SORL) Shares Down 6.7%
SORL Auto Parts Inc. (NASDAQ:SORL) shares traded down 6.7% during mid-day trading on Tuesday . The stock traded as low as $2.55 and last traded at $2.65, with a volume of 1,293,623 shares. The stock had previously closed at $2.84.
Separately, Zacks Investment Research cut SORL Auto Parts from a “buy” rating to a “hold” rating in a research report on Saturday, June 18th.
The stock has a market capitalization of $49.61 million and a price-to-earnings ratio of 4.67. The firm’s 50 day moving average is $1.80 and its 200-day moving average is $1.72.
SORL Auto Parts (NASDAQ:SORL) last issued its earnings results on Monday, August 15th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.19. The firm earned $73.50 million during the quarter, compared to analysts’ expectations of $57.71 million. During the same period last year, the business posted $0.12 earnings per share. On average, analysts anticipate that SORL Auto Parts Inc. will post $0.61 earnings per share for the current fiscal year.
SORL Auto Parts, Inc is a China-based Company through its 90% ownership of the Ruili Group Ruian Auto Parts Co, Ltd., a Sino-foreign joint venture (Joint Venture), develops, manufactures and distributes automotive brake systems and other safety related auto parts to automotive original equipment manufacturers (OEM), and the related aftermarket both in China and abroad.
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