NEW YORK (TheStreet) -- Shares of China Finance Online Co. (JRJC) are rising higher by 17.72% to $8.37 in mid-morning trading on Tuesday, after the company announced that it has entered into a strategic partnership agreement with Zhongshan Securities Co. Ltd. to integrate with China Finance Online's newly-launched web-based trading platform, "Securities Master."
China Finance Online is a provider of vertically integrated financial services, including news, data, analytics, and brokerage. Zhongshan Securities operates as a securities trading firm.
"This partnership will allow China Finance Online to offer a competitive commission rate to investors, strengthen its platform's online trading capabilities and further expand its broad user base," the company said.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
"As a key part of the company's new strategy for "Securities Master," China Finance Online aims to continue to expand its partnerships with more securities firms, enabling it to offer an integrated financial platform with more comprehensive products and services to its broadened base of retail investors," China Finance Online continued.
Terms of the partnership were not disclosed.
Separately, TheStreet Ratings team rates CHINA FINANCE ONLINE CO -ADR as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate CHINA FINANCE ONLINE CO -ADR (JRJC) 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 solid stock price performance. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."