SORL Auto Parts Inc. (SORL) Trading Up 10.9%
SORL Auto Parts Inc. (NASDAQ:SORL) was up 10.9% during trading on Monday . The company traded as high as $2.25 and last traded at $2.23, with a volume of 114,354 shares changing hands. The stock had previously closed at $2.01.
Separately, Zacks Investment Research upgraded shares of SORL Auto Parts from a “hold” rating to a “buy” rating and set a $2.00 price target on the stock in a report on Friday, June 17th.
The company’s 50 day moving average price is $1.93 and its 200-day moving average price is $1.76. The stock has a market cap of $43.82 million and a PE ratio of 2.80.
SORL Auto Parts (NASDAQ:SORL) last announced its quarterly earnings data on Monday, August 15th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.19. The company had revenue of $73.50 million for the quarter, compared to the consensus estimate of $57.71 million. During the same quarter in the previous year, the business earned $0.12 EPS. On average, equities analysts forecast that SORL Auto Parts Inc. will post $0.75 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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