Vonage Stock Falls On Unusually High Volume (VG)

NEW YORK ( TheStreet) -- Vonage Holdings Corporation (NYSE: VG) is trading at unusually high volume Wednesday with 7.3 million shares changing hands. It is currently at 4.1 times its average daily volume and trading down 42 cents (-15.4%) at $2.31 as of 10:40 a.m. ET.

Vonage has a market cap of $521 million and is part of the technology sector and telecommunications industry. Shares are up 11.4% year to date as of the close of trading on Tuesday.

Vonage Holdings Corp. provides broadband communication services in the United States, Canada, and the United Kingdom. The company offers voice and messaging services through session initiation protocol (SIP) based voice over Internet protocol network. The company has a P/E ratio of 73.5, above the average telecommunications industry P/E ratio of 46.2 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Vonage as a hold. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth and expanding profit margins. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year. You can view the full Vonage Ratings Report.

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