The stock of Sorl Auto Parts, Inc. (NASDAQ:SORL) hit a new 52-week high and has $12.26 target or 166.00% above today’s $4.61 share price. The 7 months bullish chart indicates low risk for the $93.54M company. The 1-year high was reported on Oct, 17 by Barchart.com. If the $12.26 price target is reached, the company will be worth $155.28M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 159,032 shares traded hands. Sorl Auto Parts, Inc. (NASDAQ:SORL) has risen 164.25% since March 14, 2016 and is uptrending. It has outperformed by 158.63% the S&P500.
Analysts await Sorl Auto Parts, Inc. (NASDAQ:SORL) to report earnings on November, 21. They expect $0.16 earnings per share, up 45.45% or $0.05 from last year’s $0.11 per share. SORL’s profit will be $3.25 million for 7.20 P/E if the $0.16 EPS becomes a reality. After $0.37 actual earnings per share reported by Sorl Auto Parts, Inc. for the previous quarter, Wall Street now forecasts -56.76% negative EPS growth.
According to Zacks Investment Research, “Sorl Auto Parts specializes in the development, production and distribution of air brake valves and hydraulic brake valves. It is headquartered in the Ruian District of Wenzhou City, China’s automotive manufacturing center. SORL sells its products to forty-two vehicle manufacturers, including all of the truck manufacturers in China. SORL’s customer base consists of original equipment manufacturers, aftermarket distributors, and international customers.”
More recent Sorl Auto Parts, Inc. (NASDAQ:SORL) news were published by: Prnewswire.com which released: “SORL Auto Parts Announces Withdrawal of Non-Binding Going Private Proposal” on January 08, 2016. Also Prnewswire.com published the news titled: “SORL Auto Parts Announces Receipt of a Preliminary Non-Binding Proposal to …” on October 31, 2015. Zacks.com‘s news article titled: “3 Reasons Value Stock Investors Will Love SORL Auto Parts (SORL)” with publication date: September 19, 2016 was also an interesting one.
SORL Company Profile
SORL Auto Parts, Inc., incorporated on March 24, 1982, through its interests in the Ruili Group Ruian Auto Parts Co., Ltd., a Sino-foreign joint venture (Joint Venture), develops, makes 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. The Firm operates through two divisions: Commercial Vehicle Brake Systems and Passenger Vehicle Brake Systems.
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