NEW YORK ( TheStreet) -- Comverse Technology (Nasdaq: CMVT) is trading at unusually high volume Wednesday with 4.9 million shares changing hands. It is currently at 5.3 times its average daily volume and trading down 16 cents (-2.4%) at $6.39 as of 12:34 p.m. ET. Comverse Technology has a market cap of $1.42 billion and is part of the technology sector and telecommunications industry. Shares are down 3.2% year to date as of the close of trading on Tuesday. Comverse Technology, Inc., through its subsidiaries, provides software-based products, systems, and related services that offer prepaid, postpaid, and converged billing and active customer management for wireless, wireline, and cable network operators. TheStreet Ratings rates Comverse Technology as a sell. The company's weaknesses can be seen in multiple areas, such as its generally weak debt management and generally disappointing historical performance in the stock itself. You can view the full Comverse Technology Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are falling on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVDOWN to 95370 or select from multiple alert options.
Shares of Comverse Technology (Nasdaq:CMVT) were gapping down Thursday morning with an open price 10.7% lower than Wednesday's closing price. The stock closed at $6.07 yesterday and opened today's trading at $5.42.