NEW YORK (TheStreet) -- Netflix (Nasdaq:NFLX) hit a new 52-week low Friday as it is currently trading at $53.10, below its previous 52-week low of $53.29 with 1.8 million shares traded as of 10:55 a.m. ET. Average volume has been five million shares over the past 30 days. Netflix has a market cap of $3.03 billion and is part of the services sector and specialty retail industry. Shares are down 22.3% year to date as of the close of trading on Thursday. Netflix, Inc. provides Internet subscription services for TV shows and movies in the United States and internationally. The company offers its subscribers to watch unlimited TV shows and movies streamed over the Internet to their TVs, computers, and mobile devices. The company has a P/E ratio of 18.4, below the average specialty retail industry P/E ratio of 29.9 and above the S&P 500 P/E ratio of 17.7.
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