NEW YORK ( TheStreet) -- Shares of Axcelis Technologies (Nasdaq: ACLS) were gapping down Thursday morning with an open price 16.5% lower than Wednesday's closing price. The stock closed at $2.49 Wednesday and opened today's trading at $2.08. The average volume for Axcelis has been 1.8 million shares per day over the past 30 days. Axcelis has a market cap of $274.6 million and is part of the technology sector and electronics industry. Shares are down 28% year to date as of the close of trading on Wednesday. Axcelis Technologies, Inc. designs, manufactures, and services ion implantation, dry strip, and other processing equipment used in the fabrication of semiconductor chips in the United States, Europe, and the Asia Pacific. TheStreet Ratings rates Axcelis 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 impressive record of earnings per share growth. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall. You can view the full Axcelis Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping down? Get free SMS text alerts sent to you when the action happens by texting DOWN to 95370 or select from multiple alert options.