NEW YORK ( TheStreet) -- Shares of SciQuest (Nasdaq: SQI) were gapping down Monday morning with an open price 14.2% lower than Friday's closing price. The stock closed at $15.90 Friday and opened today's trading at $13.65.

The average volume for SciQuest has been 81,100 shares per day over the past 30 days. SciQuest has a market cap of $309.1 million and is part of the technology sector and internet industry. Shares are up 22.8% year to date as of the close of trading on Friday.

SciQuest, Inc. provides an on-demand strategic procurement and supplier enablement solution worldwide. The company's solution integrates its customers with their suppliers for automating the source-to-settle process.

TheStreet Ratings rates SciQuest 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 solid stock price performance. However, as a counter to these strengths, we find that net income has been generally deteriorating over time. You can view the full SciQuest Ratings Report.

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Commit To Purchase SciQuest At $12.50, Earn 13% Annualized Using Options