NEW YORK ( TheStreet) -- Harbin Electric (Nasdaq: HRBN) is trading at unusually high volume Tuesday with five million shares changing hands. It is currently at four times its average daily volume and trading up $1.39 (+10.4%) at $14.74 as of 3:16 p.m. ET. Harbin Electric has a market cap of $262.1 million and is part of the industrial goods sector and industrial industry. Shares are down 23.1% year to date as of the close of trading on Monday. 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 3.9, 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. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are rising on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVUP to 95370 or select from multiple alert options.
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.