NEW YORK ( TheStreet) -- Shares of Harbin Electric (Nasdaq: HRBN) were gapping up Friday morning with an open price 13.3% higher than Thursday's closing price. The stock closed at $6.98 Thursday and opened today's trading at $7.91. The average volume for Harbin Electric has been 949,300 shares per day over the past 30 days. Harbin Electric has a market cap of $446.9 million and is part of the industrial goods sector and industrial industry. Shares are down 59.8% year to date as of the close of trading on Thursday. Harbin Electric, Inc., through its subsidiaries, engages in the design, development, manufacture, supply, and service of electric motors in the People's Republic of China and internationally. The company has a P/E ratio of 6.7, equal to the average industrial industry P/E ratio and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Harbin Electric as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Harbin Electric 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.