NEW YORK ( TheStreet) -- Motricity (Nasdaq: MOTR) hit a new 52-week low Thursday as it is currently trading at $1.78, below its previous 52-week low of $1.85 with 134,698 shares traded as of 9:55 a.m. ET. Average volume has been two million shares over the past 30 days. Motricity has a market cap of $90.5 million and is part of the technology sector and telecommunications industry. Shares are down 89.9% year to date as of the close of trading on Wednesday. Motricity, Inc. enables mobile operators, brands, and advertising agencies to maximize the reach and economic potential of the mobile ecosystem through the delivery of relevance-driven merchandising, marketing, and advertising solutions. The company has a P/E ratio of 0.8, below the average telecommunications industry P/E ratio of 8.5 and below the S&P 500 P/E ratio of 17.7.
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Shares of Motricity (Nasdaq:MOTR) were gapping down Friday morning with an open price 16.7% lower than Thursday's closing price. The stock closed at $1.32 yesterday and opened today's trading at $1.10.