NEW YORK ( TheStreet) -- Shares of ShoreTel (Nasdaq: SHOR) were gapping up Thursday morning with an open price 11.6% higher than Wednesday's closing price. The stock closed at $6.65 Wednesday and opened today's trading at $7.42.

The average volume for ShoreTel has been 293,400 shares per day over the past 30 days. ShoreTel has a market cap of $317.9 million and is part of the technology sector and telecommunications industry. Shares are down 14.8% year to date as of the close of trading on Wednesday.

ShoreTel, Inc., together with its subsidiaries, provides Internet protocol (IP) telecommunications systems for enterprises in the United States.

TheStreet Ratings rates ShoreTel 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 expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow. You can view the full ShoreTel Ratings Report.

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