Sorl Auto Parts (NASDAQ:SORL) was upgraded by research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.
Several other brokerages have also recently weighed in on SORL. Greenridge Global set a $10.00 target price on Sorl Auto Parts and gave the company a “buy” rating in a research note on Monday, November 20th. Zacks Investment Research cut Sorl Auto Parts from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Finally, TheStreet raised Sorl Auto Parts from a “c+” rating to a “b-” rating in a research note on Wednesday, November 29th.
Shares of Sorl Auto Parts (NASDAQ:SORL) traded down $0.12 on Friday, hitting $6.01. The stock had a trading volume of 214,560 shares, compared to its average volume of 316,134. The firm has a market capitalization of $116.02, a price-to-earnings ratio of 3.90 and a beta of 1.65. Sorl Auto Parts has a 52 week low of $2.68 and a 52 week high of $9.74.
A number of hedge funds have recently made changes to their positions in the stock. Allianz Asset Management GmbH bought a new position in Sorl Auto Parts during the third quarter valued at about $421,000. Navellier & Associates Inc boosted its stake in Sorl Auto Parts by 19.3% during the second quarter. Navellier & Associates Inc now owns 67,285 shares of the company’s stock valued at $449,000 after buying an additional 10,875 shares in the last quarter. USA Financial Portformulas Corp bought a new position in Sorl Auto Parts during the second quarter valued at about $296,000. Macquarie Group Ltd. bought a new position in Sorl Auto Parts during the third quarter valued at about $140,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Sorl Auto Parts in the 2nd quarter valued at $225,000. 8.27% of the stock is owned by institutional investors and hedge funds.
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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