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NEW YORK ( TheStreet) -- Tele Norte Leste Holding Company (NYSE: TNE) hit a new 52-week low Wednesday as it is currently trading at $8.71, below its previous 52-week low of $8.72 with 307,787 shares traded as of 11:27 a.m. ET. Average volume has been 1.2 million shares over the past 30 days. Tele Norte Leste Holding has a market cap of $4.37 billion and is part of the technology sector and telecommunications industry. Shares are down 37.8% year to date as of the close of trading on Tuesday. Tele Norte Leste Participacoes S.A. provides integrated telecommunication services in Brazil. It operates in three segments: Fixed-Line Services, Mobile Services, and Other. The company has a P/E ratio of 17.7, above the average telecommunications industry P/E ratio of 13.3 and equal to the S&P 500 P/E ratio of 17.7.