NEW YORK (
) -- Shares of
) were gapping down Wednesday morning with an open price 18.9% lower than Tuesday's closing price. The stock closed at $11.70 Tuesday and opened today's trading at $9.49.
The average volume for STEC has been 1.5 million shares per day over the past 30 days. STEC has a market cap of $581 million and is part of the
industry. Shares are down 33.7% year to date as of the close of trading on Tuesday.
STEC, Inc. designs, manufactures, and markets enterprise-class flash solid-state drives (SSDs) for use in high-performance storage and server systems. The company has a P/E ratio of 11, above the average computer hardware industry P/E ratio of 10.8 and below the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates STEC as a
. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, robust revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and disappointing return on equity. You can view the full
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