NEW YORK ( TheStreet) -- Shares of New Energy Systems Group (AMEX: NEWN) have taken a tremendous swing upward. The stock is trading at $1.69 as of 10:06 a.m. ET, 24.3% above Tuesday's closing price of $1.36. Volume is at 81,960, 0.2 times the daily average of 457,800.

New Energy Systems Group has a market cap of $21 million and is part of the technology sector and electronics industry. Shares are down 82.4% year to date as of the close of trading on Tuesday.

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 1.3, 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 largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, disappointing return on equity and a generally disappointing performance in the stock itself. You can view the full New Energy Systems Group Ratings Report.

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