NEW YORK (

TheStreet

) -- Shares of

MetroPCS Communications

(NYSE:

PCS

) have taken a tremendous swing upward. The stock is trading at $7.68 as of 9:35 a.m. ET, 22.3% above Wednesday's closing price of $6.28. Volume is at 577,569, 0.1 times the daily average of 6.2 million.

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MetroPCS has a market cap of $2.39 billion and is part of the

technology

sector and

telecommunications

industry. Shares are down 27.6% year to date as of the close of trading on Wednesday.

MetroPCS Communications, Inc., a wireless telecommunications carrier, together with its subsidiaries, provides wireless broadband mobile services in the United States. The company has a P/E ratio of nine, equal to the average telecommunications industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates MetroPCS as a

hold

. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, poor profit margins and weak operating cash flow. You can view the full

MetroPCS Ratings Report

.

See our

top % gaining stocks list

for other stocks that are soaring today, or get investment ideas from our

investment research center

.

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