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%).
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. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are rising on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVUP to 95370 or select from multiple alert options.
As part of yesterday's massive Tesla Motors price target hike, Morgan Stanley analyst Adam Jonas touched on the upcoming Gigafactory, which Tesla wants to house lithium-ion battery production. While no one knows what it will cost, it's likely to be incredibly expensive.