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TheStreet Wire

Harbin Electric Reaches New 52-Week High (HRBN)

By TheStreet Wire 10/31/11 - 10:19 AM EDT

Find out if (HRBN) is in Cramer's Portfolio.

NEW YORK (TheStreet) -- Harbin Electric (Nasdaq:HRBN) hit a new 52-week high Monday as it is currently trading at $23.62, above its previous 52-week high of $23.20 with 539,265 shares traded as of 9:55 a.m. ET. Average volume has been 1.7 million shares over the past 30 days.

Harbin Electric has a market cap of $719.8 million and is part of the industrial goods sector and industrial industry. Shares are up 32.2% year to date as of the close of trading on Friday.

Harbin Electric, Inc., through its subsidiaries, engages in the design, development, manufacture, supply, and service of electric motors in the People's Republic of China and internationally. The company has a P/E ratio of 12.4, above the average industrial industry P/E ratio of 12.2 and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Harbin Electric as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Harbin Electric Ratings Report.

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