Stock Traders Purchase High Volume of SORL Auto Parts Call Options (NASDAQ:SORL)

SORL Auto Parts, Inc. (NASDAQ:SORL) saw unusually large options trading activity on Thursday. Traders acquired 2,718 call options on the company. This is an increase of Infinity compared to the typical daily volume of 0 call options.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. AJO LP acquired a new position in SORL Auto Parts during the second quarter worth about $1,832,000. Allianz Asset Management GmbH acquired a new position in SORL Auto Parts during the third quarter worth about $421,000. Navellier & Associates Inc boosted its position in SORL Auto Parts by 19.3% during the second quarter. Navellier & Associates Inc now owns 67,285 shares of the company’s stock worth $449,000 after acquiring an additional 10,875 shares during the last quarter. California Public Employees Retirement System boosted its position in SORL Auto Parts by 226.5% during the first quarter. California Public Employees Retirement System now owns 54,200 shares of the company’s stock worth $209,000 after acquiring an additional 37,600 shares during the last quarter. Finally, USA Financial Portformulas Corp acquired a new position in SORL Auto Parts during the second quarter worth about $296,000. Hedge funds and other institutional investors own 7.74% of the company’s stock.

A number of brokerages have recently commented on SORL. TheStreet raised shares of SORL Auto Parts from a “c+” rating to a “b-” rating in a research report on Wednesday, November 29th. Greenridge Global set a $10.00 target price on shares of SORL Auto Parts and gave the company a “buy” rating in a research note on Monday, November 20th. Zacks Investment Research upgraded shares of SORL Auto Parts from a “hold” rating to a “strong-buy” rating and set a $7.50 price objective for the company in a research note on Friday, November 24th. Finally, ValuEngine upgraded shares of SORL Auto Parts from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, one has given a buy rating and two have assigned a strong buy rating to the company. SORL Auto Parts presently has a consensus rating of “Buy” and a consensus target price of $8.75.

SORL Auto Parts (NASDAQ SORL) traded up $0.17 during mid-day trading on Monday, hitting $7.35. 893,849 shares of the stock were exchanged, compared to its average volume of 588,190. The stock has a market capitalization of $138.61, a PE ratio of 4.66 and a beta of 1.98. SORL Auto Parts has a twelve month low of $2.68 and a twelve month high of $9.74.

SORL Auto Parts (NASDAQ:SORL) last posted its quarterly earnings results on Tuesday, November 14th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.26. The firm had revenue of $101.33 million for the quarter, compared to analyst estimates of $63.84 million. SORL Auto Parts had a net margin of 8.54% and a return on equity of 16.79%. During the same period in the previous year, the business posted $0.17 earnings per share. analysts predict that SORL Auto Parts will post 1.58 earnings per share for the current year.

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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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