NEW YORK ( TheStreet) -- Shares of China Sky One Medical (Nasdaq: CSKI) have taken a tremendous swing upward. The stock is trading at $2.57 as of 2:25 p.m. ET, 20.7% above Wednesday's closing price of $2.13. Volume is at 151,799, 1.2 times the daily average of 123,500.

China Sky One Medical has a market cap of $36.1 million and is part of the health care sector and drugs industry. Shares are down 69.4% year to date as of the close of trading on Wednesday.

China Sky One Medical Inc., through its subsidiaries, develops, manufactures, markets, and sells over-the-counter branded nutritional supplements, and over-the-counter plant and herb-based pharmaceutical and medicinal products primarily in the People's Republic of China. The company has a P/E ratio of 1.2, equal to the average drugs industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates China Sky One Medical as a hold. 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 expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, weak operating cash flow and a generally disappointing performance in the stock itself. You can view the full China Sky One Medical 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.