SORL Auto Parts, Inc. (SORL) Sees Strong Trading Volume
Shares of SORL Auto Parts, Inc. (NASDAQ:SORL) saw strong trading volume on Wednesday . 1,113,970 shares were traded during trading, an increase of 138% from the previous session’s volume of 467,119 shares.The stock last traded at $4.53 and had previously closed at $3.84.
A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded SORL Auto Parts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th. ValuEngine downgraded SORL Auto Parts from a “buy” rating to a “hold” rating in a research note on Monday, September 18th.
The stock has a market capitalization of $87.45 million, a price-to-earnings ratio of 3.58 and a beta of 1.66. The stock’s 50 day moving average price is $4.32 and its 200-day moving average price is $5.62.
SORL Auto Parts (NASDAQ:SORL) last announced its quarterly earnings data on Monday, August 14th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). The firm had revenue of $90.22 million during the quarter, compared to analyst estimates of $90.61 million. SORL Auto Parts had a net margin of 7.90% and a return on equity of 14.49%. Analysts anticipate that SORL Auto Parts, Inc. will post $1.26 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the company. Navellier & Associates Inc increased its holdings in shares of SORL Auto Parts by 19.3% in the second quarter. Navellier & Associates Inc now owns 67,285 shares of the company’s stock valued at $449,000 after purchasing an additional 10,875 shares during the period. USA Financial Portformulas Corp acquired a new position in shares of SORL Auto Parts in the second quarter valued at about $296,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of SORL Auto Parts in the second quarter valued at about $115,000. MML Investors Services LLC acquired a new position in shares of SORL Auto Parts in the second quarter valued at about $214,000. Finally, AJO LP acquired a new position in shares of SORL Auto Parts in the second quarter valued at about $1,832,000. 9.68% of the stock is currently owned by institutional investors and hedge funds.
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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.
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