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NEW YORK ( TheStreet) -- The Geo Group (NYSE: GEO) hit a new 52-week low Wednesday as it is currently trading at $17, below its previous 52-week low of $17.03 with 272,189 shares traded as of 2 p.m. ET. Average volume has been 723,500 shares over the past 30 days. The Geo Group has a market cap of $1.1 billion and is part of the services sector and diversified services industry. Shares are down 28% year to date as of the close of trading on Tuesday. The GEO Group, Inc. provides government-outsourced services specializing in the management of correctional, detention, mental health, residential treatment, and re-entry facilities in the United States, Australia, South Africa, the United Kingdom, and Canada. The company has a P/E ratio of 13.6, below the average diversified services industry P/E ratio of 16.5 and below the S&P 500 P/E ratio of 17.7.