NetApp Rises On Unusually High Volume (NTAP)

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) -- NetApp (Nasdaq: NTAP) is trading at unusually high volume Wednesday with 15.1 million shares changing hands. It is currently at two times its average daily volume and trading up $1.59 (+4.3%) at $38.22 as of 10:46 a.m. ET.

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NetApp has a market cap of $13.4 billion and is part of the technology sector and computer hardware industry. Shares are up 9.2% year to date as of the close of trading on Tuesday.

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 26.9, above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates NetApp as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, good cash flow from operations, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full NetApp Ratings Report.

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