NEW YORK ( TheStreet) -- Shares of Anaren (Nasdaq: ANEN) were gapping up Thursday morning with an open price 10.3% higher than Wednesday's closing price. The stock closed at $19.50 Wednesday and opened today's trading at $21.50. The average volume for Anaren has been 88,500 shares per day over the past 30 days. Anaren has a market cap of $293.3 million and is part of the technology sector and telecommunications industry. Shares are down 6.5% year to date as of the close of trading on Wednesday. Anaren, Inc. designs, develops, and manufactures microwave and radio frequency components, assemblies, and subsystems that receive, process, and transmit radar, wireless communications, and other wireless signals and microwave transmissions. The company has a P/E ratio of 17.8, equal to the average telecommunications industry P/E ratio and equal to the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Anaren as a buy. 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, solid stock price performance, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Anaren Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping up? Get free SMS text alerts sent to you when the action happens by texting UP to 95370 or select from multiple alert options.