Abraxas Stock Soars (AXAS)

NEW YORK ( TheStreet) -- Shares of Abraxas Petroleum Corporation (Nasdaq: AXAS) have taken a tremendous swing upward. The stock is trading at $3.09 as of 10:30 a.m. ET, 20.2% above Friday's closing price of $2.57. Volume is at 588,879, 0.3 times the daily average of 2.1 million.

Abraxas has a market cap of $235.8 million and is part of the basic materials sector and energy industry. Shares are down 44.6% year to date as of the close of trading on Friday.

Abraxas Petroleum Corporation, an independent energy company, engages in the acquisition, development, exploration, and production of oil and gas in the United States and Canada.

TheStreet Ratings rates Abraxas as a hold. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income and revenue growth. However, as a counter to these strengths, we also find weaknesses including generally poor debt management and a generally disappointing performance in the stock itself. You can view the full Abraxas Ratings Report.

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