NEW YORK (TheStreet) -- Shares of TimkenSteel Corp. (TMST) - Get Report are skyrocketing by 48.74% to $7.66 on heavy trading volume in midday trading on Friday after the company reported its 2015 fourth quarter earnings.

After the market close yesterday, the Canton, OH-based steelmaker reported losing $25.5 million, or losing 58 cents per share, which was narrower than the 68 cents per share loss analysts were expecting.

Revenue fell by 11.2% sequentially to $206.6 million, lower than analysts' estimates of $211 million.

"While we continue to feel the impact from weak global commodity markets and high customer inventory levels, our cost reduction efforts and pace of new business from innovation reduced the losses we anticipated in the quarter," CEO Tim Timken said in a statement.

"We expect 2016 to be another challenging year, so our focus will continue to be on cash generation while maintaining industry leading customer service."

TimkenSteel manufactures and sells alloy steel and carbon and micro-alloy steel products

About 3.3 million of the company's shares were traded by this afternoon, well above its average volume of 1.1 million shares per day.

Similarly, TheStreet Ratings Team has a "sell" rating with a score of D- on the stock.

This is driven by several weaknesses, which should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks the team covers.

The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, weak operating cash flow and generally disappointing historical performance in the stock itself.

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: TMST

Image placeholder title

TMST

data by

YCharts