NEW YORK (

TheStreet

) --

Vonage Holdings Corporation

(NYSE:

VG

) hit a new 52-week low Friday as it is currently trading at $2.22, below its previous 52-week low of $2.23 with 367,844 shares traded as of 12:20 p.m. ET. Average volume has been 1.9 million shares over the past 30 days.

Vonage has a market cap of $559.4 million and is part of the

technology

sector and

telecommunications

industry. Shares are up 0.9% year to date as of the close of trading on Wednesday.

Vonage Holdings Corp. provides broadband communication services in the United States, Canada, and the United Kingdom. The company offers voice and messaging services through session initiation protocol (SIP) based voice over Internet protocol network. The company has a P/E ratio of 56.5, above the average telecommunications industry P/E ratio of 49.6 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Vonage 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, expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we find that the growth in the company's earnings per share has not been good. You can view the full

Vonage Ratings Report

.

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