NEW YORK ( TheStreet) -- Shares of Powerwave Technologies (Nasdaq: PWAV) were gapping down Friday morning with an open price 30.2% lower than Thursday's closing price. The stock closed at $2.15 Thursday and opened today's trading at $1.50. The average volume for Powerwave has been one million shares per day over the past 30 days. Powerwave has a market cap of $60 million and is part of the technology sector and telecommunications industry. Shares are down 33.7% year to date as of the close of trading on Thursday. Powerwave Technologies, Inc. designs, manufactures, and markets end-to-end wireless solutions for wireless communications networks worldwide. TheStreet Ratings rates Powerwave as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, poor profit margins, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share. You can view the full Powerwave 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.
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