SanDisk Rises On Unusually High Volume (SNDK)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- SanDisk (Nasdaq: SNDK) is trading at unusually high volume Friday with 18.4 million shares changing hands. It is currently at four times its average daily volume and trading up $1.97 (+4.6%) at $44.83 as of 3:21 p.m. ET.

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SanDisk has a market cap of $10.71 billion and is part of the technology sector and computer hardware industry. Shares are down 12.9% year to date as of the close of trading on Thursday.

Sandisk Corporation designs, develops, and manufactures NAND flash memory storage solutions that are used in various consumer electronics products. The company has a P/E ratio of 16.9, equal to the average computer hardware industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates SanDisk as a buy. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full SanDisk Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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