NEW YORK ( TheStreet) -- Shares of New Energy Systems Group (AMEX: NEWN) have taken a tremendous swing upward. The stock is trading at $3.67 as of 9:30 a.m. ET, 20.3% above Monday's closing price of $3.05. Volume is at 462, zero times the daily average of 324,600.

New Energy Systems Group has a market cap of $44.7 million and is part of the technology sector and electronics industry. Shares are down 60.5% year to date as of the close of trading on Monday.

New Energy Systems Group, through its subsidiaries, manufactures and distributes lithium battery shells and related products primarily in China. It develops, customizes, and produces steel and aluminum battery shells and caps. The company principally serves large lithium battery manufacturers. The company has a P/E ratio of 2.5, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates New Energy Systems Group 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 New Energy Systems Group Ratings Report.

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