Ford (F) Rises Despite Edge SUV Recall

Update (4:19 p.m. EST): Updated with closing price, day high and low prices, price change and volume information.

NEW YORK (TheStreet) -- Ford (F) rose 1.83% to $16.70, up 30 cents from its previous close of $16.40, at the close of the trading day on Wednesday despite the company's announcement that it would recall 27,933 Edge SUVs.

The stock had a volume of 61,678,219, well above its average of 41,896,300. It hit a high of $16.73 and a low of $16.35 for the day.

The Dearborn, Mich.-based automaker announced that it would recall the SUVs, some of which were already recalled in 2012, because of fuel leaks that could lead to fires. The company will recall the 2012 and 2013 models that were manufactured from Sept. 2010 to April 2013 and that are fitted with 2.0L engines.

"The fuel line pulse damper metal housing may crack as a result of an improper manufacturing process. A cracked fuel line pulse damper housing may result in a combination of fuel odor, seepage, or a continuous leak while the fuel system is pressurized," Ford told the National Highway Traffic Safety Administration, according to The Detroit News.

Ford said it is aware of 24 warranty claims for fuel leaks in vehicles built after the Edge recall (which totaled 5,845 vehicles) in 2012. None of the new incidents are tied to the vehicles in the 2012 recall, but Ford decided to include them in this latest recall anyway. The company has been investigating this problem since June, when it encountered nine reports of warranty claims for fuel leaks or odor.

TheStreet Ratings team rates FORD MOTOR CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

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