NEW YORK (TheStreet) -- Health Insurance Innovations (HIIQ) - Get Health Insurance Innovations, Inc. Class A Report shares are up 14.2% to $11.34 in trading Wednesday.

The jump comes following the web-based health insurance company posting record quarterly sales results during the first quarter.

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The company received 57,644 submitted applications during the quarter, a 107% jump from first quarter 2013.

The numbers have been helped due to the Affordable Care Act mandate.

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"Our sequential growth of 56 percent in Q1 over Q4 2013 confirms that consumer demand for these more agile health plans continues in this post-Obamacare market," said CEO Mike Kosloske.

TheStreet Ratings team rates HEALTH INSURANCE INNOVATIONS as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

"We rate HEALTH INSURANCE INNOVATIONS (HIIQ) 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 robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income and feeble growth in the company's earnings per share."

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

  • The revenue growth greatly exceeded the industry average of 13.9%. Since the same quarter one year prior, revenues rose by 33.6%. 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.
  • HIIQ has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. Along with this, the company maintains a quick ratio of 3.99, which clearly demonstrates the ability to cover short-term cash needs.
  • Compared to other companies in the Insurance industry and the overall market, HEALTH INSURANCE INNOVATIONS's return on equity significantly trails that of both the industry average and the S&P 500.
  • HEALTH INSURANCE INNOVATIONS has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has reported a trend of declining earnings per share over the past year. However, the consensus estimate suggests that this trend should reverse in the coming year. During the past fiscal year, HEALTH INSURANCE INNOVATIONS swung to a loss, reporting -$0.73 versus $0.15 in the prior year. This year, the market expects an improvement in earnings ($0.44 versus -$0.73).
  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Insurance industry. The net income has significantly decreased by 53.0% when compared to the same quarter one year ago, falling from $0.70 million to $0.33 million.
  • You can view the full analysis from the report here: HIIQ Ratings Report

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