Shares of CNinsure (Nasdaq:CISG) have taken a tremendous swing upward. The stock is trading at $8.45 as of 3:20 p.m. ET, 20.9% above Wednesday's closing price of $6.99. Volume is at 666,274, 1.8 times the daily average of 360,600.
NEW YORK ( TheStreet) -- Shares of CNinsure (Nasdaq: CISG) have taken a tremendous swing upward. The stock is trading at $8.45 as of 3:20 p.m. ET, 20.9% above Wednesday's closing price of $6.99. Volume is at 666,274, 1.8 times the daily average of 360,600. CNinsure has a market cap of $343.7 million and is part of the financial sector and insurance industry. Shares are up 1% year to date as of the close of trading on Wednesday. CNinsure Inc., an insurance intermediary company, provides insurance brokerage and agency, and insurance claims adjusting services in the People's Republic of China. The company distributes property and casualty, and life insurance products underwritten by various insurance companies. The company has a P/E ratio of 5.4, above the average insurance industry P/E ratio of 4.1 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates CNinsure as a hold. 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 and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, unimpressive growth in net income and disappointing return on equity. You can view the full CNinsure 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.