NEW YORK ( TheStreet) -- Shares of Tekelec (Nasdaq: TKLC) were gapping up Wednesday morning with an open price 16.8% higher than Tuesday's closing price. The stock closed at $7.50 Tuesday and opened today's trading at $8.76.

The average volume for Tekelec has been 976,200 shares per day over the past 30 days. Tekelec has a market cap of $487.4 million and is part of the technology sector and telecommunications industry. Shares are down 37% year to date as of the close of trading on Tuesday.

Tekelec engages in the design, development, manufacture, marketing, sale, and support of telecommunications products and services.

TheStreet Ratings rates Tekelec as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself. You can view the full Tekelec Ratings Report.

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