SORL Auto Parts Inc. (SORL) Stock Price Up 10.9%
SORL Auto Parts Inc. (NASDAQ:SORL) rose 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 trading hands. The stock had previously closed at $2.01.
Separately, Zacks Investment Research raised shares of SORL Auto Parts from a “hold” rating to a “buy” rating and set a $2.00 target price for the company in a research report on Thursday, June 9th.
The stock has a market capitalization of $45.75 million and a P/E ratio of 2.93. The company’s 50 day moving average price is $1.96 and its 200-day moving average price is $1.77.
SORL Auto Parts (NASDAQ:SORL) last issued its earnings results on Monday, August 15th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.19. The firm had revenue of $73.50 million for the quarter, compared to analysts’ expectations of $57.71 million. During the same period last year, the firm earned $0.12 earnings per share. Equities analysts forecast that SORL Auto Parts Inc. will post $0.75 EPS 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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