NEW YORK ( TheStreet) -- Shares of New Energy Systems Group (AMEX: NEWN) were gapping up Wednesday morning with an open price 10.6% higher than Tuesday's closing price. The stock closed at $4.05 Tuesday and opened today's trading at $4.48.

The average volume for New Energy Systems Group has been 254,800 shares per day over the past 30 days. New Energy Systems Group has a market cap of $62.9 million and is part of the technology sector and electronics industry. Shares are down 47.6% year to date as of the close of trading on Tuesday.

New Energy Systems Group, through its subsidiaries, manufactures and distributes lithium battery shells and related products primarily in China. It develops, customizes, and produces steel and aluminum battery shells and caps. The company principally serves large lithium battery manufacturers. The company has a P/E ratio of 3.7, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 16.8.

TheStreet Ratings rates New Energy Systems Group 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 growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including poor profit margins and a generally disappointing performance in the stock itself. You can view the full New Energy Systems Group Ratings Report.

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