SORL Auto Parts, Inc. (SORL) Shares Down 5.1%
SORL Auto Parts, Inc. (NASDAQ:SORL) shares traded down 5.1% during trading on Friday . The stock traded as low as $6.54 and last traded at $6.56. 633,310 shares traded hands during mid-day trading, an increase of 9% from the average session volume of 578,550 shares. The stock had previously closed at $6.91.
Several research analysts recently commented on the stock. ValuEngine raised shares of SORL Auto Parts from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 10th. Zacks Investment Research raised shares of SORL Auto Parts from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th.
The stock has a market cap of $133.40, a P/E ratio of 3.89 and a beta of 1.73.
SORL Auto Parts (NASDAQ:SORL) last posted its quarterly earnings results on Wednesday, November 15th. The company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.26. SORL Auto Parts had a net margin of 8.54% and a return on equity of 17.35%. During the same period in the prior year, the firm posted $0.17 EPS. analysts predict that SORL Auto Parts, Inc. will post 1.26 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new position in SORL Auto Parts during the 2nd quarter worth about $115,000. Macquarie Group Ltd. bought a new position in SORL Auto Parts during the 3rd quarter worth about $140,000. California Public Employees Retirement System grew its holdings in SORL Auto Parts by 226.5% during the 1st quarter. California Public Employees Retirement System now owns 54,200 shares of the company’s stock worth $209,000 after acquiring an additional 37,600 shares in the last quarter. MML Investors Services LLC bought a new position in SORL Auto Parts during the 2nd quarter worth about $214,000. Finally, JPMorgan Chase & Co. bought a new position in SORL Auto Parts during the 2nd quarter worth about $225,000. Institutional investors own 9.13% of the company’s stock.
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About SORL Auto Parts
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.
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