NEW YORK ( TheStreet) -- Shares of Powerwave Technologies (Nasdaq: PWAV) were gapping down Wednesday morning with an open price 42.5% lower than Tuesday's closing price. The stock closed at $1.46 Tuesday and opened today's trading at 84 cents. The average volume for Powerwave has been 2.2 million shares per day over the past 30 days. Powerwave has a market cap of $229.7 million and is part of the technology sector and telecommunications industry. Shares are down 42.9% year to date as of the close of trading on Tuesday. Powerwave Technologies, Inc. engages in the design, manufacture, marketing, and sale of wireless solutions for wireless communications networks worldwide. The company has a P/E ratio of 13.6, below the average telecommunications industry P/E ratio of 14.5 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Powerwave as a sell. The company's weaknesses can be seen in multiple areas, such as its poor profit margins, weak operating cash flow, generally disappointing historical performance in the stock itself and generally weak debt management. You can view the full Powerwave 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.