NEW YORK ( TheStreet) -- Shares of TransAtlantic Petroleum (AMEX: TAT) were gapping down Friday morning with an open price 12.5% lower than Thursday's closing price. The stock closed at $1.28 Thursday and opened today's trading at $1.12. The average volume for TransAtlantic has been 1.1 million shares per day over the past 30 days. TransAtlantic has a market cap of $457.2 million and is part of the basic materials sector and energy industry. Shares are down 2.3% year to date as of the close of trading on Thursday. Transatlantic Petroleum Ltd., an integrated international oil and gas company, engages in the acquisition, exploration, development, and production of oil and natural gas. TheStreet Ratings rates TransAtlantic as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself. You can view the full TransAtlantic 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.