NEW YORK ( TheStreet) -- Shares of SmartHeat (Nasdaq: HEAT) have taken a tremendous swing upward. The stock is trading at $3.22 as of 1:56 p.m. ET, 20.1% above Friday's closing price of $2.68. Volume is at 1.6 million, 3.8 times the daily average of 408,900.

SmartHeat has a market cap of $109.5 million and is part of the industrial goods sector and industrial industry. Shares are down 49.2% year to date as of the close of trading on Friday.

SmartHeat Inc. designs, manufactures, sells, and services plate heat exchangers (PHE) and related systems used in the industrial, residential, and commercial markets in the People's Republic of China. The company has a P/E ratio of 4.2, equal to the average industrial industry P/E ratio and below the S&P 500 P/E ratio of 16.3.

TheStreet Ratings rates SmartHeat as a hold. 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 attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and disappointing return on equity. You can view the full SmartHeat Ratings Report.

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