NEW YORK ( TheStreet) -- Piper Jaffray Cos (NYSE: PJC) is trading at unusually high volume Thursday with 711,790 shares changing hands. It is currently at four times its average daily volume and trading up $2.70 (+14.2%) at $21.69 as of 3:59 p.m. ET. Piper Jaffray Cos has a market cap of $346.5 million and is part of the financial sector and financial services industry. Shares are down 45.8% year to date as of the close of trading on Wednesday. Piper Jaffray Companies provides investment banking services, institutional sales, trading and research services, and asset management services worldwide. The company has a P/E ratio of 14.8, below the average financial services industry P/E ratio of 15.3 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Piper Jaffray Cos as a hold. The company's strongest point has been its expanding profit margins. At the same time, however, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income. You can view the full Piper Jaffray Cos 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.