NEW YORK ( TheStreet) -- Shares of MetroPCS Communications (NYSE: PCS) have taken a tremendous swing upward. The stock is trading at $8.06 as of 12:20 p.m. ET, 22.9% above Tuesday's closing price of $6.56. Volume is at 8.8 million, 1.4 times the daily average of 6.2 million. MetroPCS has a market cap of $2.43 billion and is part of the technology sector and telecommunications industry. Shares are down 24.4% year to date as of the close of trading on Tuesday. MetroPCS Communications, Inc., a wireless telecommunications carrier, together with its subsidiaries, provides wireless broadband mobile services in the United States. The company has a P/E ratio of 9.2, equal to the average telecommunications industry P/E ratio and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates MetroPCS as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, poor profit margins and weak operating cash flow. You can view the full MetroPCS Ratings Report. See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center.