Acme Packet Stock Gaps Down On Today's Open (APKT)
Shares of Acme Packet (Nasdaq:APKT) were gapping down Wednesday morning with an open price 18.9% lower than Tuesday's closing price. The stock closed at $31.81 yesterday and opened today's trading at $25.80.
NEW YORK ( TheStreet) -- Shares of Acme Packet (Nasdaq: APKT) were gapping down Wednesday morning with an open price 18.9% lower than Tuesday's closing price. The stock closed at $31.81 Tuesday and opened today's trading at $25.80. The average volume for Acme Packet has been 3.2 million shares per day over the past 30 days. Acme Packet has a market cap of $2.07 billion and is part of the technology sector and telecommunications industry. Shares are down 41.9% year to date as of the close of trading on Tuesday. Acme Packet, Inc. provides session delivery network solutions that enable the delivery of interactive communications, such as voice, video, and multimedia sessions; and data services across internet protocol (IP) network borders. The company has a P/E ratio of 44.2, equal to the average telecommunications industry P/E ratio and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Acme Packet 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 good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, unimpressive growth in net income and disappointing return on equity. You can view the full Acme Packet 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.