NEW YORK (

TheStreet

) -- Shares of

Aruba Networks

(Nasdaq:

ARUN

) have taken a tremendous swing upward. The stock is trading at $20.75 as of 12:56 p.m. ET, 21.1% above Thursday's closing price of $17.14. Volume is at 10.3 million, 2.6 times the daily average of four million.

Aruba has a market cap of $1.8 billion and is part of the

technology

sector and

computer hardware

industry. Shares are down 17.9% year to date as of the close of trading on Thursday.

Aruba Networks, Inc. provides distributed enterprise networks that securely connect local and remote users to corporate information technology resources worldwide. The company has a P/E ratio of 593, equal to the average computer hardware industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Aruba as a

TheStreet Recommends

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 compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including premium valuation and weak operating cash flow. You can view the full

Aruba Ratings Report

.

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