China Precision Steel (CPSL) Explodes to One-Year High

NEW YORK (TheStreet) -- China Precision Steel (CPSL) exploded to a one-year high of $3.75 on Thursday on higher-than-average volume.

The stock had amassed a volume of more than 1.5 million as of 2:40 p.m., more than 100 times its average of 14,925. The company made no announcements this week but reported its second-quarter results in mid-February. China Precision Steel reported revenue of $11.9 million, gross loss of $5.1 million, net loss of $13 million, fully diluted loss per share of $3.34 and international sales of $0.2 million, which accounted for 2% of total sales.

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TheStreet Ratings team rates CHINA PRECISION STEEL INC as a "sell" with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:

"We rate CHINA PRECISION STEEL INC (CPSL) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, generally high debt management risk and disappointing return on equity."

CPSL Chart

CPSL data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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