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Telestone Stock Gaps Up On Today's Open (TSTC)

NEW YORK (TheStreet) -- Shares of Telestone Technologies Corporation (Nasdaq:TSTC) were gapping up Wednesday morning with an open price 12.3% higher than Tuesday's closing price. The stock closed at $5.52 Tuesday and opened today's trading at $6.20.

The average volume for Telestone has been 117,700 shares per day over the past 30 days. Telestone has a market cap of $75.6 million and is part of the technology sector and telecommunications industry. Shares are down 48% year to date as of the close of trading on Tuesday.

Telestone Technologies Corporation offers wireless local-access network technologies and solutions primarily in the People's Republic of China. Its access-network solutions include the research and development, and application of access network technology. The company has a P/E ratio of 2.4, above the average telecommunications industry P/E ratio of 2.2 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Telestone as a hold. 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 notable return on equity. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and a generally disappointing performance in the stock itself. You can view the full Telestone Ratings Report.

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