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NEW YORK ( TheStreet) -- Avid Technology (Nasdaq: AVID) hit a new 52-week low Tuesday as it is currently trading at $8.99, below its previous 52-week low of $9.11 with 123,245 shares traded as of 2:30 p.m. ET. Average volume has been 243,200 shares over the past 30 days. Avid Technology has a market cap of $358.4 million and is part of the technology sector and computer software & services industry. Shares are down 46.7% year to date as of the close of trading on Friday. Avid Technology, Inc. provides digital media content-creation products and solutions for film, video, audio, and broadcast professionals, as well as artists and home enthusiasts.