NEW YORK ( TheStreet) -- Shares of EXFO (Nasdaq: EXFO) were gapping down Wednesday morning with an open price 14% lower than Tuesday's closing price. The stock closed at $8.95 Tuesday and opened today's trading at $7.70. The average volume for EXFO has been 133,000 shares per day over the past 30 days. EXFO has a market cap of $245.7 million and is part of the technology sector and telecommunications industry. Shares are up 26.8% year to date as of the close of trading on Tuesday. EXFO Inc. designs, manufactures, and markets test and service assurance solutions for wireless and wireline network operators, and equipment manufacturers in the telecommunications industry worldwide. The company has a P/E ratio of 78.1, above the average telecommunications industry P/E ratio of 29.6 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates EXFO 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 compelling growth in net income. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full EXFO 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.