SORL Auto Parts Inc. (NASDAQ:SORL) traded down 1.7% during mid-day trading on Tuesday . The stock traded as low as $2.23 and last traded at $2.27, with a volume of 54,535 shares trading hands. The stock had previously closed at $2.31.

Separately, Zacks Investment Research lowered shares of SORL Auto Parts from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th.

The firm has a 50 day moving average price of $1.90 and a 200 day moving average price of $1.75. The firm has a market capitalization of $43.63 million and a PE ratio of 2.79.

SORL Auto Parts (NASDAQ:SORL) last issued its quarterly earnings data on Monday, August 15th. The company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.19. The business earned $73.50 million during the quarter, compared to the consensus estimate of $57.71 million. During the same quarter last year, the company earned $0.12 EPS. Equities research analysts predict that SORL Auto Parts Inc. will post $0.61 earnings per share 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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