Sorl Auto Parts Sees Strong Trading Volume Following Better-Than-Expected Earnings (SORL)
Shares of Sorl Auto Parts (NASDAQ:SORL) saw unusually-high trading volume on Friday following a better than expected earnings announcement, Analyst RN reports. Approximately 68,255 shares were traded during trading, an increase of 17% from the previous session’s volume of 58,173 shares.The stock last traded at $3.80 and had previously closed at $3.84.
The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. The company had revenue of $65.70 million for the quarter, compared to the consensus estimate of $60.41 million.
The stock has a 50-day moving average of $3.36 and a 200-day moving average of $3.69. The company has a market cap of $73.4 million and a P/E ratio of 6.80.
SORL Auto Parts, Inc, through its 90% ownership of the Ruili Group Ruian Auto Parts Co, Ltd., a Sino-foreign joint venture (NASDAQ:SORL), develops, manufactures and distributes automotive air brake systems, air controlling systems and other related components to automotive original equipment manufacturers (OEMs), and the related aftermarket both in China and internationally.
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