NEW YORK ( TheStreet) -- Shares of InterOil Corporation (NYSE: IOC) were gapping down Tuesday morning with an open price 10.5% lower than Monday's closing price. The stock closed at $55.31 Monday and opened today's trading at $49.48. The average volume for InterOil has been 797,300 shares per day over the past 30 days. InterOil has a market cap of $2.52 billion and is part of the basic materials sector and energy industry. Shares are up 8.2% year to date as of the close of trading on Monday. InterOil Corporation operates as an integrated oil and gas company in Papua New Guinea. The company engages in the exploration, appraisal, and development of crude oil and natural gas structures. The company has a P/E ratio of 163.2, above the average energy industry P/E ratio of 145.5 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates InterOil 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 compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and poor profit margins. You can view the full InterOil 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.