NEW YORK ( TheStreet) -- Shares of China Information Technology (Nasdaq: CNIT) have taken a tremendous swing upward. The stock is trading at $1.35 as of 10:30 a.m. ET, 20.5% above Thursday's closing price of $1.12. Volume is at 371,854, 3.5 times the daily average of 107,000. China Information Technology has a market cap of $32.3 million and is part of the technology sector and computer software & services industry. Shares are down 10% year to date as of the close of trading on Thursday. China Information Technology Inc. provides integrated solutions for the geographic information systems (GIS), digital public security technology (DPST), and the digital hospital information systems markets in the People's Republic of China. The company has a P/E ratio of 3.9, equal to the average computer software & services industry P/E ratio and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates China Information Technology as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and expanding profit margins. 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 China Information Technology 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.