Shares of Exide Technologies (Nasdaq:XIDE) were gapping down Thursday morning with an open price 17.5% lower than Wednesday's closing price. The stock closed at $9.71 yesterday and opened today's trading at $8.01.
NEW YORK ( TheStreet) -- Shares of Exide Technologies (Nasdaq: XIDE) were gapping down Thursday morning with an open price 17.5% lower than Wednesday's closing price. The stock closed at $9.71 Wednesday and opened today's trading at $8.01. The average volume for Exide has been 574,000 shares per day over the past 30 days. Exide has a market cap of $763.2 million and is part of the industrial goods sector and industrial industry. Shares are up 3.2% year to date as of the close of trading on Wednesday. Exide Technologies, together with its subsidiaries, engages in the manufacture and supply of lead-acid batteries for the transportation and industrial energy applications. The company has a P/E ratio of 9.6, below the average industrial industry P/E ratio of 9.8 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Exide as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including generally poor debt management and poor profit margins. You can view the full Exide 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.