The Calgary-based company raised $660 million -- around 10% more capital than it expected. Smart Technologies priced at $17, at the middle of its expected range of $16 to $18.But despite a promising start, Smart's stock has suffered since going public. Shares have tumbled more than 40% for the year. Last month, RBC Capital Markets downgraded the stock from outperform to sector perform. The company missed analyst expectations during its most recent quarter, posting revenue of $222.7 million, behind consensus of $234 million. Smart Technologies also sharply cut its revenue guidance for the March 2011 fiscal year to a range of $770 million to $805 million, down from a prior range of $850 million to $885 million. Although Smart Technlogies stumbled this year, tech watchers are expecting a brighter 2011. "This is clearly a company investing in the future and though near-term headwinds persist in the U.S., we believe the company is poised to continue to capture share and resume 15-20% annual growth," Piper Jaffray analyst Troy Jensen wrote in a recent analyst note.