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NEW YORK ( TheStreet) -- Powerwave Technologies (Nasdaq: PWAV) hit a new 52-week low Thursday as it is currently trading at $1.35, below its previous 52-week low of $1.36 with 776,488 shares traded as of 10:56 a.m. ET. Average volume has been 2.6 million shares over the past 30 days. Powerwave has a market cap of $237.5 million and is part of the technology sector and telecommunications industry. Shares are down 42.5% year to date as of the close of trading on Wednesday. Powerwave Technologies, Inc. engages in the design, manufacture, marketing, and sale of wireless solutions for wireless communications networks worldwide. The company has a P/E ratio of 13.6, below the average telecommunications industry P/E ratio of 15 and below the S&P 500 P/E ratio of 17.7.