SORL Auto Parts, Inc. (NASDAQ:SORL) shares dropped 7.3% during trading on Wednesday . The stock traded as low as $4.05 and last traded at $4.07. Approximately 757,809 shares were traded during mid-day trading, an increase of 34% from the average daily volume of 564,852 shares. The stock had previously closed at $4.39.

SORL has been the subject of several recent research reports. Zacks Investment Research lowered shares of SORL Auto Parts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th. ValuEngine raised shares of SORL Auto Parts from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd.

The company’s 50-day moving average is $6.05 and its 200-day moving average is $5.53. The firm has a market capitalization of $78.57 million, a price-to-earnings ratio of 3.22 and a beta of 1.67.

SORL Auto Parts (NASDAQ:SORL) last released its quarterly earnings results on Monday, August 14th. The company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.02. The company had revenue of $90.22 million during the quarter, compared to analysts’ expectations of $90.61 million. SORL Auto Parts had a return on equity of 14.49% and a net margin of 7.90%. On average, equities research analysts expect that SORL Auto Parts, Inc. will post $1.26 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Navellier & Associates Inc boosted its holdings in SORL Auto Parts by 19.3% in the 2nd quarter. Navellier & Associates Inc now owns 67,285 shares of the company’s stock worth $449,000 after acquiring an additional 10,875 shares during the period. USA Financial Portformulas Corp purchased a new position in SORL Auto Parts in the 2nd quarter worth approximately $296,000. Dynamic Technology Lab Private Ltd purchased a new position in SORL Auto Parts in the 2nd quarter worth approximately $115,000. MML Investors Services LLC purchased a new position in SORL Auto Parts in the 2nd quarter worth approximately $214,000. Finally, AJO LP purchased a new position in shares of SORL Auto Parts during the 2nd quarter valued at approximately $1,832,000. Hedge funds and other institutional investors own 9.68% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “SORL Auto Parts, Inc. (SORL) Trading Down 7.3%” was originally reported by Daily Political and is the sole property of of Daily Political. If you are viewing this article on another website, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The legal version of this article can be accessed at https://www.dailypolitical.com/2017/09/06/sorl-auto-parts-inc-sorl-trading-down-7-3.html.

SORL Auto Parts Company Profile

SORL Auto Parts, Inc, through its interests in 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 (OEMs), and the related aftermarket both in China and abroad.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.