The SORL Auto Parts, Inc. (SORL) Stock Price Down 7.4%

The SORL Auto Parts, Inc. (SORL) Stock Price Down 7.4%

SORL Auto Parts, Inc. (NASDAQ:SORL) fell 7.4% during mid-day trading on Wednesday . The company traded as low as $4.42 and last traded at $4.50. 608,002 shares changed hands during mid-day trading, an increase of 32% from the average session volume of 459,615 shares. The stock had previously closed at $4.86.

A number of research analysts have weighed in on SORL shares. ValuEngine lowered SORL Auto Parts from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research upgraded SORL Auto Parts from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th.

The stock has a market cap of $86.87 million, a P/E ratio of 3.56 and a beta of 1.66. The firm’s 50-day moving average price is $4.38 and its 200 day moving average price is $5.78.

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

A number of institutional investors have recently bought and sold shares of SORL. Dynamic Technology Lab Private Ltd acquired a new stake in SORL Auto Parts in the second quarter valued at $115,000. California Public Employees Retirement System lifted its position 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 valued at $209,000 after acquiring an additional 37,600 shares in the last quarter. MML Investors Services LLC purchased a new stake in shares of SORL Auto Parts in the second quarter valued at $214,000. JPMorgan Chase & Co. purchased a new stake in shares of SORL Auto Parts in the second quarter valued at $225,000. Finally, USA Financial Portformulas Corp purchased a new stake in shares of SORL Auto Parts in the second quarter valued at $296,000. 9.45% of the stock is currently owned by institutional investors.

SORL Auto Parts Company Profile

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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