NEW YORK ( TheStreet) -- Shares of China TechFaith Wireless Comm Tech (Nasdaq: CNTF) have taken a tremendous swing upward. The stock is trading at $1.24 as of 9:35 a.m. ET, 22.8% above Friday's closing price of $1.01. Volume is at 162,596, 0.9 times the daily average of 177,000. China TechFaith Wireless Comm Tech has a market cap of $53.5 million and is part of the technology sector and telecommunications industry. Shares are down 43.9% year to date as of the close of trading on Friday. China Techfaith Wireless Communication Technology Limited, together with its subsidiaries, operates as an original developed products provider that is focused on the original design and sale of mobile phones in the People's Republic of China and internationally. The company has a P/E ratio of 5.6, above the average telecommunications industry P/E ratio of 2.2 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates China TechFaith Wireless Comm Tech 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 and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins. You can view the full China TechFaith Wireless Comm Tech Ratings Report. See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center.