NEW YORK (TheStreet) -- Shares of SINA Corp. (SINA) - Get Report finished the day in the green, closing higher by 8.49% to $40.12 as some U.S. traded China-based stocks rallied today after China's market closed higher.

SINA is an online media company that services China and the global Chinese communities, and is based in Shanghai.

The Shanghai Composite index rose by 0.5% to 3,052.78 at the close of trading in China on Wednesday, Bloomberg reports.

China's automakers were leading the market after the country's government cut a vehicle purchase tax.

Since the end of June the index has declined by 29% as China's economy struggles.

Financial markets in China will be closed beginning tomorrow for a week long national holiday, Bloomberg added.

Separately, TheStreet Ratings team rates SINA CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

We rate SINA CORP (SINA) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, a generally disappointing performance in the stock itself and feeble growth in the company's earnings per share.

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • SINA's revenue growth has slightly outpaced the industry average of 7.1%. Since the same quarter one year prior, revenues rose by 14.2%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • Despite currently having a low debt-to-equity ratio of 0.39, it is higher than that of the industry average, inferring that management of debt levels may need to be evaluated further. Even though the debt-to-equity ratio shows mixed results, the company's quick ratio of 3.98 is very high and demonstrates very strong liquidity.
  • Reflecting the weaknesses we have cited, including the decline in the company's earnings per share, SINA has underperformed the S&P 500 Index, declining 14.97% from its price level of one year ago. Turning toward the future, the fact that the stock has come down in price over the past year should not necessarily be interpreted as a negative; it could be one of the factors that may help make the stock attractive down the road. Right now, however, we believe that it is too soon to buy.
  • The company, on the basis of change in net income from the same quarter one year ago, has underperformed when compared to that of the S&P 500 and greatly underperformed compared to the Internet Software & Services industry average. The net income has significantly decreased by 29.8% when compared to the same quarter one year ago, falling from $16.62 million to $11.67 million.
  • You can view the full analysis from the report here: SINA