NEW YORK ( TheStreet) -- Shares of Telestone Technologies Corporation (Nasdaq: TSTC) have taken a tremendous swing upward. The stock is trading at $8.38 as of 1:22 p.m. ET, 20.4% above Friday's closing price of $6.96. Volume is at 1.2 million, 3.7 times the daily average of 329,700. Telestone has a market cap of $79.8 million and is part of the technology sector and telecommunications industry. Shares are down 34.5% year to date as of the close of trading on Friday. Telestone Technologies Corporation provides access network solutions primarily in the People's Republic of China. Its access network solutions include the research and development, and application of access network technology. The company has a P/E ratio of 2.8, equal to the average telecommunications industry P/E ratio and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Telestone 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 notable return on equity. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and a generally disappointing performance in the stock itself. You can view the full Telestone 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.