Harbin Electric Inc. (NASDAQ:HRBN) rose 79% in pre-market trades Monday. It has agreed to be acquired for $24 a share in cash, after closing at $8.39 a share Friday. Harbin shares rose $15.25 a share in pre-market trades.Tianfu Yang, Harbin Chairman and CEO is the buyer in the deal. Yang indirectly owns Cayman Islands-based Tech Full Electric Co. Ltd.Sharedholders have been "Unhappy and frustrated" lately and that the company has faced "false and misleading" information. This has affected the trading in Harbin’s stocks a well.The company Harbin Electric has a potential upside of 186.1% based on a current price of $8.39 and an average consensus analyst price target of $24.