Why Sky-mobi (MOBI) Stock Is Gaining Today

NEW YORK (TheStreet) -- Sky-mobi (MOBI) was gaining 12.5% to $7.55 Monday after reporting its second quarter results.

For the second quarter the Hangzhou, China-based company reported earnings of RMB0.28, or about 4 cents a share. Sky-mobi reported revenue of RMB170.2 million, or about $27.4 million, for the quarter, an increase of 32.4% from the previous quarter and 35.9% from the year-ago quarter.

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TheStreet Ratings team rates SKY-MOBI LTD -ADR as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate SKY-MOBI LTD -ADR (MOBI) 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 largely solid financial position with reasonable debt levels by most measures and solid stock price performance. 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 analysis from the report here: MOBI Ratings Report

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