China Information Technology Stock Gaps Up On Today's Open (CNIT)
Shares of China Information Technology (Nasdaq:CNIT) were gapping up Tuesday morning with an open price 11.1% higher than Monday's closing price. The stock closed at $2.70 yesterday and opened today's trading at $3.
NEW YORK ( TheStreet) -- Shares of China Information Technology (Nasdaq: CNIT) were gapping up Tuesday morning with an open price 11.1% higher than Monday's closing price. The stock closed at $2.70 Monday and opened today's trading at $3. The average volume for China Information Technology has been 602,300 shares per day over the past 30 days. China Information Technology has a market cap of $136 million and is part of the technology sector and computer software & services industry. Shares are down 48.2% year to date as of the previous trading day's close. China Information Technology, Inc. specializes in Geographic Information System (GIS), digital public security, and hospital information systems in China. The company has a P/E ratio of 3.9, equal to the average computer software & services industry P/E ratio and below the S&P 500 P/E ratio of 16.2. TheStreet Ratings rates China Information Technology 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 unimpressive growth in net income, disappointing return on equity and a generally disappointing performance in the stock itself. You can view the full China Information Technology Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping up? Get free SMS text alerts sent to you when the action happens by texting UP to 95370 or select from multiple alert options.