NEW YORK ( TheStreet) -- Piper Jaffray Cos (NYSE: PJC) is trading at unusually high volume Wednesday with 743,440 shares changing hands. It is currently at four times its average daily volume and trading down $3.96 (-16%) at $20.82 as of 3:20 p.m. ET. Piper Jaffray Cos has a market cap of $482.3 million and is part of the financial sector and financial services industry. Shares are up 22.7% year to date as of the close of trading on Tuesday. 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 20.6, below the average financial services industry P/E ratio of 21.3 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Piper Jaffray Cos as a sell. The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself, feeble growth in its earnings per share, deteriorating net income, generally weak debt management and disappointing return on equity. 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 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.