NEW YORK ( TheStreet) -- Shares of China Sky One Medical (Nasdaq: CSKI) have taken a tremendous swing upward. The stock is trading at $5.68 as of 11:51 a.m. ET, 21.6% above Tuesday's closing price of $4.67. Volume is at 561,814, 2.8 times the daily average of 199,600.

China Sky One Medical has a market cap of $79.4 million and is part of the health care sector and drugs industry. Shares are down 33% year to date as of the close of trading on Tuesday.

China Sky One Medical Inc., through its subsidiaries, develops, manufactures, markets, and sells over-the-counter branded nutritional supplements, and over-the-counter plant and herb-based pharmaceutical and medicinal products primarily in the People's Republic of China. The company has a P/E ratio of 2.3, above the average drugs industry P/E ratio of 2.1 and below the S&P 500 P/E ratio of 17.3.

TheStreet Ratings rates China Sky One Medical as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and a generally disappointing performance in the stock itself. You can view the full China Sky One Medical Ratings Report.

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