SORL Auto Parts Inc. (NASDAQ:SORL) shares were up 2.2% during trading on Friday . The company traded as high as $2.40 and last traded at $2.31, with a volume of 290,864 shares trading hands. The stock had previously closed at $2.26.

Separately, Zacks Investment Research cut SORL Auto Parts from a “buy” rating to a “hold” rating in a research note on Saturday, June 4th.

The company’s 50-day moving average price is $1.87 and its 200-day moving average price is $1.74. The stock has a market capitalization of $44.40 million and a P/E ratio of 2.84.

SORL Auto Parts (NASDAQ:SORL) last posted 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 earned $73.50 million during the quarter, compared to analysts’ expectations of $57.71 million. During the same quarter in the prior year, the firm posted $0.12 earnings per share. On average, equities analysts expect 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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