Comverse Technology Stock Gaps Down On Today's Open (CMVT)

NEW YORK ( TheStreet) -- 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 Wednesday and opened today's trading at $5.42.

The average volume for Comverse Technology has been 2.5 million shares per day over the past 30 days. Comverse Technology has a market cap of $1.31 billion and is part of the technology sector and telecommunications industry. Shares are down 12.8% year to date as of the close of trading on Wednesday.

Comverse Technology, Inc., through its subsidiaries, provides software-based products, systems, and related services for wireless, wireline, and cable network communication service providers.

TheStreet Ratings rates Comverse Technology as a sell. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, generally weak debt management, weak operating cash flow and generally disappointing historical performance in the stock itself. You can view the full Comverse Technology Ratings Report.

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