NEW YORK ( TheStreet) -- Shares of Premiere Global Services (NYSE: PGI) were gapping up Friday morning with an open price 21.2% higher than Thursday's closing price. The stock closed at $8.12 Thursday and opened today's trading at $9.84.

The average volume for Premiere Global Services has been 189,700 shares per day over the past 30 days. Premiere Global Services has a market cap of $409.1 million and is part of the technology sector and telecommunications industry. Shares are up 19.3% year to date as of the close of trading on Thursday.

Premiere Global Services, Inc. (PGi) provides virtual meetings solutions. People around the world come together using its video, Web, and audio conferencing solutions. The company primarily offers three solutions, including iMeet, GlobalMeet, and ReadyConference. The company has a P/E ratio of 60.2, above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Premiere Global Services as a hold. The company's strengths can be seen in multiple areas, such as its 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 Premiere Global Services Ratings Report.

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