SORL Auto Parts (SORL) Shares Up -4.3% Following Better-Than-Expected Earnings

SORL Auto Parts (NASDAQ:SORL)’s share price shot up 4.3% on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $6.88 and last traded at $5.32. 9,542 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 253,027 shares. The stock had previously closed at $5.56.

The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.24. The firm had revenue of $107.73 million during the quarter, compared to the consensus estimate of $86.96 million. SORL Auto Parts had a net margin of 6.08% and a return on equity of 13.39%. During the same quarter in the previous year, the firm posted $0.36 earnings per share.

A number of equities analysts recently commented on SORL shares. ValuEngine downgraded shares of SORL Auto Parts from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research downgraded shares of SORL Auto Parts from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 23rd.

Hedge funds have recently modified their holdings of the stock. Two Sigma Securities LLC acquired a new position in shares of SORL Auto Parts during the fourth quarter worth $164,000. Two Sigma Investments LP acquired a new position in shares of SORL Auto Parts during the fourth quarter worth $221,000. Finally, Virtu Financial LLC acquired a new position in shares of SORL Auto Parts during the fourth quarter worth $656,000. Hedge funds and other institutional investors own 8.83% of the company’s stock.

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.99 and a current ratio of 1.32. The company has a market capitalization of $108.11 million, a P/E ratio of 4.17 and a beta of 1.67.

About SORL Auto Parts

SORL Auto Parts, Inc, together with its subsidiaries, develops, manufactures, and distributes automotive brake systems and other safety related auto parts to automotive original equipment manufacturers and the related aftermarket in the People's Republic of China. It operates through two segments, Commercial Vehicles Brake Systems and Passenger Vehicles Brake Systems.

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