NEW YORK (TheStreet) -- Shares of Health Insurance Innovations (HIIQ) - Get Health Insurance Innovations, Inc. Class A Report are jumping 16.25% to $4.65 on heavy trading volume early Tuesday afternoon after the company posted better-than-expected results for the 2016 second quarter.
After yesterday's closing bell, the Tampa-based health coverage provider posted adjusted earnings of 27 cents per share, handily topping Wall Street's estimates of 6 cents per share.
Revenue for the quarter was $44.5 million, above analysts' expectations of $37.1 million.
For 2016, Health Insurance Innovations now sees earnings per share between 55 cents and 56 cents on revenue of $155 million to $165 million. Previously, the company guided earnings per share between 38 cents and 42 cents on revenue of $138 million to $144 million.
Analysts are looking for earnings of 43 cents per share on revenue of $144.9 million for the full year.
About 3.4 million of the company's shares traded hands so far today compared to its average 30-day volume of 81,626 shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C- on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income.
But the team also finds weaknesses including a generally disappointing performance in the stock itself and weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: HIIQ