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Sorl Auto Parts Up 30% After Q1 Beat, Raised Guidance

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Sorl Auto Parts, Inc. (NASDAQ: SORL) shares are trading higher by $1.20 (28 percent) at $5.74 in Monday's session.

The catalyst for the rally is a Q1 EPS beat of $0.21 along with a sales beat of $2.1 million. The company also raised FY 2017 sales from $297 million estimates to $315 million.

So far, Sorl's much higher opening tick of $5.19 stands as the low for the session. That low is well above the upper end of Friday' range, which comes in at $4.58.

The ensuing rally took the stock to $6.20, but has fallen back into the upper-$5.00 handle. The current high coincides with its May 2011 high of $6.24.

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