China Information Technology Stock Soars (CNIT)

NEW YORK ( TheStreet) -- Shares of China Information Technology (Nasdaq: CNIT) have taken a tremendous swing upward. The stock is trading at $1.56 as of 11:50 a.m. ET, 26.8% above Monday's closing price of $1.23. Volume is at 543,569, 5.1 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 2.9% year to date as of the close of trading on Monday.

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 3.8, below the average computer software & services industry P/E ratio of four 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, reasonable valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity. 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.

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