NEW YORK ( TheStreet) -- Shares of Advanced Battery Technologies (Nasdaq: ABAT) have taken a tremendous swing upward. The stock is trading at $2.49 as of 11:21 a.m. ET, 20.3% above Tuesday's closing price of $2.07. Volume is at 6.7 million, 3.8 times the daily average of 1.7 million.

Advanced Battery has a market cap of $155.9 million and is part of the industrial goods sector and industrial industry. Shares are down 46.2% year to date as of the close of trading on Tuesday.

Advanced Battery Technologies, Inc., through its subsidiaries, engages in the design, manufacture, and marketing of rechargeable polymer lithium-ion (PLI) batteries in the United States, Europe, and Asia. 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 16.8.

TheStreet Ratings rates Advanced Battery as a buy. 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, notable return on equity, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Advanced Battery Ratings Report.

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