NEW YORK ( TheStreet) -- Shares of Omnova Solutions (NYSE: OMN) have taken a tremendous swing upward. The stock is trading at $7.20 as of 9:30 a.m. ET, 27.2% above Tuesday's closing price of $5.66. Volume is at 35,433, 0.2 times the daily average of 176,700. Omnova has a market cap of $253 million and is part of the basic materials sector and chemicals industry. Shares are up 22.8% year to date as of the close of trading on Tuesday. OMNOVA Solutions Inc. provides emulsion polymers, specialty chemicals, and decorative and functional surfaces for commercial, industrial, and residential end uses primarily in North America, Europe, and Asia. The company operates in two segments, Performance Chemicals and Decorative Products. The company has a P/E ratio of 15.8, above the average chemicals industry P/E ratio of 2.8 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Omnova as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow. You can view the full Omnova 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.