NEW YORK ( TheStreet) -- Shares of Universal Stainless & Alloy Products (Nasdaq: USAP) have taken a tremendous swing upward. The stock is trading at $35.91 as of 2:22 p.m. ET, 20.3% above Friday's closing price of $29.85. Volume is at 28,188, 0.4 times the daily average of 65,400.

Universal Stainless & Alloy has a market cap of $228.4 million and is part of the basic materials sector and metals & mining industry. Shares are down 4.6% year to date as of the close of trading on Friday.

Universal Stainless & Alloy Products, Inc., together with its subsidiaries, manufactures and markets semi-finished and finished specialty steel products, including stainless steel, tool steel, and certain other alloyed steels primarily in the United States. The company has a P/E ratio of 12.5, below the average metals & mining industry P/E ratio of 13.4 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Universal Stainless & Alloy as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Universal Stainless & Alloy Ratings Report.

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