Tellabs Incorporated (Nasdaq:TLAB) hit a new 52-week low Wednesday as it changed hands at $5.24 compared with its previous 52-week low of $5.25. Tellabs is currently trading at $5.24 with 2.6 million shares changing hands as of 12:02 p.m. as compared to the average daily trading volume of 6.4 million.
NEW YORK ( TheStreet) -- Tellabs Incorporated (Nasdaq: TLAB) hit a new 52-week low Wednesday as it traded at $5.24 compared with its previous 52-Week low of $5.25. Tellabs is changing hands at $5.24 with 2.6 million shares traded as of 12:02 p.m. ET. Average volume has been 6.4 million shares over the past 30 days. Tellabs has a market cap of $2 billion and is part of the technology sector and telecommunications industry. Shares are down 21.7% year to date as of the close of trading on Tuesday. Tellabs, Inc. designs, develops, and supports telecommunications networking products for communications service providers worldwide. Its products and services enable customers to deliver wireline and wireless voice, data, and video services to business and residential customers. The company has a P/E ratio of 13.5, equal to the average telecommunications industry P/E ratio and below the S&P 500 P/E ratio of 23.2. TheStreet Ratings rates Tellabs as sell. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share. You can view the full Tellabs Ratings Report. See all 52-week low stocks or get investment ideas from our investment research center.