NEW YORK ( TheStreet) -- Shares of ClearOne Communications Corporation (Nasdaq: CLRO) have taken a tremendous swing upward. The stock is trading at $7.58 as of 3:41 p.m. ET, 20.5% above Wednesday's closing price of $6.29. Volume is at 91,774, 4.5 times the daily average of 20,400. ClearOne has a market cap of $57.4 million and is part of the technology sector and telecommunications industry. Shares are up 64.2% year to date as of the close of trading on Wednesday. ClearOne Communications, Inc. operates as a communications solutions company that develops and sells audio conferencing, collaboration, streaming media, and connectivity systems and other related products for audio, video, and Web applications. The company has a P/E ratio of 23.8, equal to the average telecommunications industry P/E ratio and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates ClearOne 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, solid stock price performance, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full ClearOne Ratings Report. See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center. Interested in other stocks that are soaring? Get free SMS text alerts sent to you when the action happens by texting SOAR to 95370 or select from multiple alert options.