Acme Packet Stock Gaps Down On Today's Open (APKT)
Shares of Acme Packet (Nasdaq:APKT) were gapping down Friday morning with an open price 18.1% lower than Thursday's closing price. The stock closed at $16.19 yesterday and opened today's trading at $13.26.
NEW YORK ( TheStreet) -- Shares of Acme Packet (Nasdaq: APKT) were gapping down Friday morning with an open price 18.1% lower than Thursday's closing price. The stock closed at $16.19 Thursday and opened today's trading at $13.26.
The average volume for Acme Packet has been 2.4 million shares per day over the past 30 days. Acme Packet has a market cap of $1.18 billion and is part of the technology sector and telecommunications industry. Shares are down 47.6% year to date as of the close of trading on Thursday. Acme Packet, Inc. provides session delivery network solutions that enable the delivery of voice, video, data, and unified communications services and applications across Internet protocol (IP) networks. The company has a P/E ratio of 36.9, equal to the average telecommunications industry P/E ratio and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Acme Packet as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity. You can view the full Acme Packet Ratings Report. Get more investment ideas from our investment research center.