NEW YORK ( TheStreet) -- Zagg (Nasdaq: ZAGG) is trading at unusually high volume Wednesday with 3.6 million shares changing hands. It is currently at 4.1 times its average daily volume and trading down 47 cents (-5.6%) at $7.89 as of 12:05 p.m. ET. Zagg has a market cap of $262.3 million and is part of the services sector and specialty retail industry. Shares are up 9.7% year to date as of the close of trading on Tuesday. ZAGG Incorporated designs, manufactures, and distributes protective coverings, audio accessories, and power solutions for consumer electronic and hand-held devices, under the invisibleSHIELD, ZAGGaudio, and ZAGGskins brand names, primarily in the United States and Europe. The company has a P/E ratio of 19.9, below the average specialty retail industry P/E ratio of 20.6 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Zagg as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full Zagg 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 falling on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVDOWN to 95370 or select from multiple alert options.