Sorl Auto Parts (NASDAQ:SORL) Stock Price Passes Above 50-Day Moving Average of $3.41

Sorl Auto Parts, Inc. (NASDAQ:SORL)’s share price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $3.41 and traded as high as $3.40. Sorl Auto Parts shares last traded at $3.39, with a volume of 10,159 shares traded.

Several research firms recently weighed in on SORL. ValuEngine cut shares of Sorl Auto Parts from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th. Zacks Investment Research cut shares of Sorl Auto Parts from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th.

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.08 and a quick ratio of 0.74. The company has a market cap of $67.95 million, a PE ratio of 2.86 and a beta of 2.46. The business’s 50 day moving average price is $3.40.

Sorl Auto Parts (NASDAQ:SORL) last released its earnings results on Wednesday, May 15th. The company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.19. The firm had revenue of $136.22 million for the quarter, compared to analysts’ expectations of $117.69 million. Sorl Auto Parts had a net margin of 2.70% and a return on equity of 11.63%. As a group, equities analysts predict that Sorl Auto Parts, Inc. will post 1.17 EPS for the current year.

About Sorl Auto Parts (NASDAQ:SORL)

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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