NEW YORK ( TheStreet) -- LoopNet (Nasdaq: LOOP) is trading at unusually high volume Thursday with 1.3 million shares changing hands. It is currently at four times its average daily volume and trading up 75 cents (+4.3%) at $18.21 as of 2:35 p.m. ET. LoopNet has a market cap of $564.3 million and is part of the financial sector and real estate industry. Shares are down 4.5% year to date as of the close of trading on Wednesday. LoopNet, Inc. owns and operates an online marketplace for commercial real estate in the United States. The company has a P/E ratio of 38.7, below the average real estate industry P/E ratio of 62 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates LoopNet as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, disappointing return on equity and weak operating cash flow. You can view the full LoopNet 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 rising on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVUP to 95370 or select from multiple alert options.
LoopNet (Nasdaq:LOOP) hit a new 52-week high Wednesday as it is currently trading at $19.07, above its previous 52-week high of $18.95 with 425,420 shares traded as of 9:35 a.m. ET. Average volume has been 300,300 shares over the past 30 days.