SORL Auto Parts Inc. (SORL) Sees Strong Trading Volume
SORL Auto Parts Inc. (NASDAQ:SORL) saw strong trading volume on Tuesday . 829,681 shares were traded during mid-day trading, an increase of 30% from the previous session’s volume of 637,774 shares.The stock last traded at $4.45 and had previously closed at $4.47.
Separately, Zacks Investment Research downgraded shares of SORL Auto Parts from a “buy” rating to a “hold” rating in a research note on Saturday, June 4th.
The company’s 50-day moving average price is $2.48 and its 200 day moving average price is $1.92. The firm has a market cap of $83.39 million, a price-to-earnings ratio of 5.33 and a beta of 1.55.
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SORL Auto Parts (NASDAQ:SORL) last announced its quarterly earnings data on Monday, August 15th. The company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.19. SORL Auto Parts had a net margin of 6.82% and a return on equity of 7.78%. The firm had revenue of $73.50 million for the quarter, compared to the consensus estimate of $57.71 million. During the same period in the previous year, the firm posted $0.12 earnings per share. On average, analysts forecast that SORL Auto Parts Inc. will post $0.75 earnings per share for the current year.
About SORL Auto Parts
SORL Auto Parts, Inc is a China-based Company through its 90% ownership of 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 (OEM), and the related aftermarket both in China and abroad.
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