NEW YORK ( TheStreet) -- Shares of SmartHeat (Nasdaq: HEAT) have taken a tremendous swing upward. The stock is trading at 65 cents as of 10:46 a.m. ET, 22.6% above Tuesday's closing price of 53 cents. Volume is at 47,367, 0.1 times the daily average of 474,400.

SmartHeat has a market cap of $25.1 million and is part of the industrial goods sector and industrial industry. Shares are down 90% year to date as of the close of trading on Tuesday.

SmartHeat Inc. manufactures, sells, and services plate heat exchangers (PHE) in the People's Republic of China. The company has a P/E ratio of 2.5, equal to the average industrial industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates SmartHeat 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, reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow. You can view the full SmartHeat Ratings Report.

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