SORL Auto Parts, Inc. (SORL) Raised to Strong-Buy at ValuEngine
SORL Auto Parts, Inc. (NASDAQ:SORL) was upgraded by equities researchers at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.
Separately, Zacks Investment Research downgraded shares of SORL Auto Parts from a “hold” rating to a “sell” rating in a report on Thursday, August 24th.
Shares of SORL Auto Parts (NASDAQ:SORL) traded up 12.43% during midday trading on Tuesday, hitting $5.70. 1,174,198 shares of the stock were exchanged. SORL Auto Parts has a 12-month low of $2.68 and a 12-month high of $9.74. The stock’s 50 day moving average is $4.24 and its 200 day moving average is $5.72. The firm has a market cap of $110.03 million, a P/E ratio of 4.51 and a beta of 1.66.
Several institutional investors have recently made changes to their positions in the stock. AJO LP acquired a new stake in shares of SORL Auto Parts during the 2nd quarter worth about $1,832,000. Navellier & Associates Inc increased its position in shares of SORL Auto Parts by 19.3% during the 2nd quarter. Navellier & Associates Inc now owns 67,285 shares of the company’s stock worth $449,000 after purchasing an additional 10,875 shares in the last quarter. California Public Employees Retirement System increased its position in shares of SORL Auto Parts by 226.5% during the 1st quarter. California Public Employees Retirement System now owns 54,200 shares of the company’s stock worth $209,000 after purchasing an additional 37,600 shares in the last quarter. USA Financial Portformulas Corp acquired a new stake in shares of SORL Auto Parts during the 2nd quarter worth about $296,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of SORL Auto Parts during the 2nd quarter worth about $225,000. Institutional investors and hedge funds 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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