SORL Auto Parts Inc. (SORL) Trading Down 10.6%
SORL Auto Parts Inc. (NASDAQ:SORL) shares dropped 10.6% during mid-day trading on Wednesday . The company traded as low as $3.56 and last traded at $3.86, with a volume of 708,685 shares traded. The stock had previously closed at $4.32.
SORL has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of SORL Auto Parts from a “buy” rating to a “hold” rating in a research report on Saturday, June 4th. Greenridge Global lowered shares of SORL Auto Parts from a “buy” rating to a “hold” rating and set a $4.50 target price on the stock. in a research report on Wednesday.
The firm has a market cap of $77.60 million, a PE ratio of 4.96 and a beta of 1.55. The stock has a 50-day moving average price of $2.62 and a 200 day moving average price of $1.95.
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SORL Auto Parts (NASDAQ:SORL) last released its quarterly earnings results on Monday, August 15th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $73.50 million for the quarter, compared to analyst estimates of $57.71 million. During the same period last year, the firm earned $0.12 earnings per share. Equities research analysts expect that SORL Auto Parts Inc. will post $0.75 earnings per share for the current year.
SORL Auto Parts Company Profile
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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