Shares of Echelon Corporation (Nasdaq:ELON) were gapping down Friday morning with an open price 12.1% lower than Thursday's closing price. The stock closed at $7.13 yesterday and opened today's trading at $6.27.
NEW YORK ( TheStreet) -- Shares of Echelon Corporation (Nasdaq: ELON) were gapping down Friday morning with an open price 12.1% lower than Thursday's closing price. The stock closed at $7.13 Thursday and opened today's trading at $6.27. The average volume for Echelon has been 265,200 shares per day over the past 30 days. Echelon has a market cap of $284 million and is part of the technology sector and computer hardware industry. Shares are down 34.3% year to date as of the close of trading on Thursday. Echelon Corporation develops, markets, and sells energy control networking solutions primarily in the Americas, Europe, the Middle East, Africa, and the Asia Pacific/Japan. TheStreet Ratings rates Echelon 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 compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and weak operating cash flow. You can view the full Echelon 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.