1. Harbin Electric ( HRBN) is a holding company that designs, develops, manufactures, supplies and services a range of electric motors, including linear motors, specialty micro-motors and industrial rotary motors. With four manufacturing facilities in China, it sells its products in the domestic market and a few international markets. The company has three product lines: linear motors (LMs) and integrated systems, specialty micro-motors and industrial rotary motors. The stock jumped 12% in the past one week. Both the analysts covering the stock rated it a buy. Analysts polled by Bloomberg expect the stock to gain an average 47.5% to $24 in the next 12 months. Last week, Harbin Electric agreed to purchase four of GE's gas turbines featuring FlexEfficiency technology for use in district heating applications, in a move to further develop China's high-end electric market. Harbin will buy four Frame 9FB gas turbines from GE by the end of 2013 and use them in future projects. GE's active relationship with Harbin dates back to 2003 when it first provided gas turbines for projects in China. In 2010, the two companies formed a joint venture to develop China's wind power sector.
Harbin Electric (Nasdaq:HRBN) hit a new 52-week high Monday as it is currently trading at $23.62, above its previous 52-week high of $23.20 with 539,265 shares traded as of 9:55 a.m. ET. Average volume has been 1.7 million shares over the past 30 days.