SORL Auto Parts Inc. (SORL) Shares Down 6.7%
Shares of SORL Auto Parts Inc. (NASDAQ:SORL) fell 6.7% on Tuesday . The company 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 lowered SORL Auto Parts from a “buy” rating to a “hold” rating in a report on Saturday, June 18th.
The firm has a 50 day moving average price of $1.85 and a 200-day moving average price of $1.73. The company has a market capitalization of $47.10 million and a P/E ratio of 3.01.
SORL Auto Parts (NASDAQ:SORL) last released its quarterly earnings data on Monday, August 15th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.19. During the same period last year, the firm posted $0.12 earnings per share. The firm had revenue of $73.50 million for the quarter, compared to analysts’ expectations of $57.71 million. Equities research analysts forecast that SORL Auto Parts Inc. will post $0.61 EPS for the current 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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