Shares of Aruba Networks (Nasdaq:ARUN) were gapping up Friday morning with an open price 11.2% higher than Thursday's closing price. The stock closed at $21.79 yesterday and opened today's trading at $24.24.
NEW YORK ( TheStreet) -- Shares of Aruba Networks (Nasdaq: ARUN) were gapping up Friday morning with an open price 11.2% higher than Thursday's closing price. The stock closed at $21.79 Thursday and opened today's trading at $24.24. The average volume for Aruba has been 3.8 million shares per day over the past 30 days. Aruba has a market cap of $2.5 billion and is part of the technology sector and computer hardware industry. Shares are up 4.4% year to date as of the close of trading on Thursday. Aruba Networks, Inc. provides next-generation network access solutions for the mobile enterprises worldwide. The company has a P/E ratio of 40.2, above the average computer hardware industry P/E ratio of 39.4 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Aruba as a buy. 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, notable return on equity, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Aruba 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.