Shares of NetApp (Nasdaq:NTAP) were gapping up Thursday morning with an open price 11.4% higher than Wednesday's closing price. The stock closed at $27.12 yesterday and opened today's trading at $30.22.
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Shares of NetApp (Nasdaq: NTAP) were gapping up Thursday morning with an open price 11.4% higher than Wednesday's closing price. The stock closed at $27.12 Wednesday and opened today's trading at $30.22.
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The average volume for NetApp has been 6.3 million shares per day over the past 30 days. NetApp has a market cap of $9.57 billion and is part of the technology sector and computer hardware industry. Shares are down 27.4% year to date as of the close of trading on Wednesday. NetApp, Inc. engages in design, manufacture, marketing, and technical support of networked storage solutions. The company supply enterprise storage and data management software, and hardware products and services. The company has a P/E ratio of 18.7, above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates NetApp 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 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 NetApp Ratings Report. Get more investment ideas from our investment research center. FREE for a limited time only: Get TheStreet Ratings #1 Stock Report NOW!.