Ajo LP Acquires Shares of 274,227 SORL Auto Parts, Inc. (SORL)
Ajo LP acquired a new stake in SORL Auto Parts, Inc. (NASDAQ:SORL) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 274,227 shares of the company’s stock, valued at approximately $1,832,000. Ajo LP owned approximately 1.42% of SORL Auto Parts at the end of the most recent quarter.
Separately, California Public Employees Retirement System lifted its stake in shares of SORL Auto Parts by 226.5% in the first quarter. California Public Employees Retirement System now owns 54,200 shares of the company’s stock valued at $209,000 after buying an additional 37,600 shares in the last quarter. Institutional investors and hedge funds own 9.68% of the company’s stock.
SORL Auto Parts, Inc. (SORL) opened at 4.21 on Tuesday. The company has a market capitalization of $81.27 million, a price-to-earnings ratio of 3.33 and a beta of 1.67. SORL Auto Parts, Inc. has a 1-year low of $2.68 and a 1-year high of $9.74. The firm has a 50 day moving average of $5.20 and a 200-day moving average of $5.57.
SORL Auto Parts (NASDAQ:SORL) last released its 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 business 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 anticipate that SORL Auto Parts, Inc. will post $1.26 earnings per share for the current fiscal year.
A number of research firms have weighed in on SORL. ValuEngine lowered shares of SORL Auto Parts from a “buy” rating to a “hold” rating in a research note on Monday. 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.
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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