SORL Auto Parts, Inc. (NASDAQ:SORL) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Monday.

Separately, Zacks Investment Research cut shares of SORL Auto Parts from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th.

SORL Auto Parts (NASDAQ:SORL) traded down 2.77% during mid-day trading on Monday, hitting $3.86. 257,533 shares of the stock were exchanged. SORL Auto Parts has a one year low of $2.68 and a one year high of $9.74. The company has a 50-day moving average price of $5.12 and a 200-day moving average price of $5.57. The company has a market cap of $74.51 million, a P/E ratio of 3.05 and a beta of 1.67.

SORL Auto Parts (NASDAQ:SORL) last released its earnings results on Monday, August 14th. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.02). SORL Auto Parts had a return on equity of 14.49% and a net margin of 7.90%. The firm had revenue of $90.22 million during the quarter, compared to analyst estimates of $90.61 million. Analysts forecast that SORL Auto Parts will post $1.26 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Navellier & Associates Inc lifted its stake 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 stake in shares of SORL Auto Parts in the second quarter valued at about $296,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of SORL Auto Parts in the second quarter valued at about $115,000. MML Investors Services LLC acquired a new stake in shares of SORL Auto Parts in the second quarter valued at about $214,000. Finally, AJO LP acquired a new stake in shares of SORL Auto Parts in the second quarter valued at about $1,832,000. Hedge funds and other institutional investors own 9.68% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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