Panasonic Rises On Unusually High Volume (PC)

NEW YORK ( TheStreet) -- Panasonic Corporation (NYSE: PC) is trading at unusually high volume Thursday with two million shares changing hands. It is currently at 4.7 times its average daily volume and trading up 76 cents (+6.8%) at $11.95 as of 9:32 a.m. ET.

Panasonic has a market cap of $23.9 billion and is part of the consumer goods sector and consumer durables industry. Shares are down 20.6% year to date as of the close of trading on Wednesday.

Panasonic Corporation, through its subsidiaries, manufactures and sells electronic and electric products, systems, and components for consumer, business, and industrial uses worldwide. The company has a P/E ratio of 13.7, below the average consumer durables industry P/E ratio of 23.4 and below the S&P 500 P/E ratio of 15.9.

TheStreet Ratings rates Panasonic as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year. You can view the full Panasonic Ratings Report.

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