SORL Auto Parts, Inc. (SORL) Announces Quarterly Earnings Results
SORL Auto Parts, Inc. (NASDAQ:SORL) announced its earnings results on Monday. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.02, MarketWatch Earnings reports. The firm 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 15.84% and a net margin of 8.80%.
SORL Auto Parts (NASDAQ SORL) traded down 0.808% on Tuesday, hitting $5.525. The stock had a trading volume of 264,509 shares. The company has a 50 day moving average price of $7.17 and a 200-day moving average price of $5.28. SORL Auto Parts has a 52-week low of $1.83 and a 52-week high of $9.74. The company has a market cap of $106.65 million, a price-to-earnings ratio of 4.148 and a beta of 1.57.
Several hedge funds have recently modified their holdings of the company. AJO LP bought a new stake in shares of SORL Auto Parts during the second quarter worth approximately $1,832,000. Renaissance Technologies LLC increased its stake in shares of SORL Auto Parts by 234.0% in the fourth quarter. Renaissance Technologies LLC now owns 156,000 shares of the company’s stock worth $474,000 after buying an additional 109,300 shares during the last quarter. California Public Employees Retirement System increased 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 worth $209,000 after buying an additional 37,600 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of SORL Auto Parts during the second quarter worth about $225,000. Finally, MML Investors Services LLC acquired a new position in shares of SORL Auto Parts during the second quarter worth about $214,000. Hedge funds and other institutional investors own 6.31% of the company’s stock.
Several research firms have recently commented on SORL. ValuEngine raised SORL Auto Parts from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded SORL Auto Parts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th.
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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