Sorl Auto Parts, Inc. (NASDAQ:SORL)’s share price was down 5.4% during mid-day trading on Friday . The company traded as low as $6.60 and last traded at $6.72. Approximately 793,860 shares traded hands during mid-day trading, an increase of 36% from the average daily volume of 584,634 shares. The stock had previously closed at $7.10.
A number of equities analysts have recently issued reports on SORL shares. Greenridge Global set a $10.00 price target on Sorl Auto Parts and gave the stock a “buy” rating in a research note on Monday, November 20th. ValuEngine cut Sorl Auto Parts from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 25th. Zacks Investment Research raised Sorl Auto Parts from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Finally, TheStreet raised Sorl Auto Parts from a “c+” rating to a “b-” rating in a report on Wednesday, November 29th.
The company has a market capitalization of $129.73, a price-to-earnings ratio of 4.36 and a beta of 1.98.
A number of institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new stake in Sorl Auto Parts during the second quarter valued at about $115,000. MML Investors Services LLC bought a new stake in Sorl Auto Parts during the second quarter valued at about $214,000. JPMorgan Chase & Co. bought a new stake in Sorl Auto Parts during the second quarter valued at about $225,000. Macquarie Group Ltd. bought a new stake in Sorl Auto Parts during the third quarter valued at about $140,000. Finally, USA Financial Portformulas Corp bought a new stake in Sorl Auto Parts during the second quarter valued at about $296,000. 7.74% of the stock is currently owned by institutional investors.
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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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