Shares of Arabian American Development Company (Nasdaq:ARSD) have taken a tremendous swing upward. The stock is trading at $8.43 as of 9:33 a.m. ET, 22.3% above Friday's closing price of $6.89. Volume is at 36,105, 1.5 times the daily average of 23,900.
NEW YORK ( TheStreet) -- Shares of Arabian American Development Company (Nasdaq: ARSD) have taken a tremendous swing upward. The stock is trading at $8.43 as of 9:33 a.m. ET, 22.3% above Friday's closing price of $6.89. Volume is at 36,105, 1.5 times the daily average of 23,900. Arabian American Development has a market cap of $156.1 million and is part of the basic materials sector and energy industry. Shares are up 55.9% year to date as of the close of trading on Friday. Arabian American Development Company, through its subsidiaries, owns and operates a petrochemical facility located in southeast Texas, which specializes in high purity petrochemical solvents and other solvent type manufacturing. The company has a P/E ratio of 33, equal to the average energy industry P/E ratio and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Arabian American Development 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, compelling growth in net income, solid stock price performance and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Arabian American Development Ratings Report. See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center. Interested in other stocks that are soaring? Get free SMS text alerts sent to you when the action happens by texting SOAR to 95370 or select from multiple alert options.