Itron Stock Falls On Unusually High Volume (ITRI)

NEW YORK ( TheStreet) -- Itron (Nasdaq: ITRI) is trading at unusually high volume Thursday with 2.3 million shares changing hands. It is currently at four times its average daily volume and trading down $6.69 (-10.5%) at $56.93 as of 12:06 p.m. ET. Itron has a market cap of $2.6 billion and is part of the technology sector and electronics industry. Shares are up 14.7% year to date as of the close of trading on Wednesday.

Itron, Inc. provides products and services for the energy and water markets worldwide. It produces electricity, gas, water, and heat meters; and various other associated metering products for residential, commercial and industrial (C&I), and transmission and distribution customers. The company has a P/E ratio of 29.5, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 23.3.

TheStreet Ratings rates Itron as hold. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, robust revenue growth and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including poor profit margins and relatively poor performance when compared with the S&P 500 during the past year. You can view the full Itron Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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