NEW YORK (TheStreet) -- Health Insurance Innovations (HIIQ) shares are up 14.2% to $11.34 in trading Wednesday.
The jump comes following the web-based health insurance company posting record quarterly sales results during the first quarter.
Must Read: Warren Buffett's 10 Favorite Growth Stocks
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
The company received 57,644 submitted applications during the quarter, a 107% jump from first quarter 2013.
The numbers have been helped due to the Affordable Care Act mandate.
"Our sequential growth of 56 percent in Q1 over Q4 2013 confirms that consumer demand for these more agile health plans continues in this post-Obamacare market," said CEO Mike Kosloske.
TheStreet Ratings team rates HEALTH INSURANCE INNOVATIONS as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate HEALTH INSURANCE INNOVATIONS (HIIQ) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income and feeble growth in the company's earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows: