NEW YORK ( TheStreet) -- Acme Packet (Nasdaq: APKT) hit a new 52-week low Monday as it is currently trading at $22.26, below its previous 52-week low of $22.39 with 367,958 shares traded as of 9:55 a.m. ET. Average volume has been 2.4 million shares over the past 30 days. Acme Packet has a market cap of $1.56 billion and is part of the technology sector and telecommunications industry. Shares are down 26.1% year to date as of the close of trading on Friday. Acme Packet, Inc. provides session delivery network solutions that enable the delivery of voice, video, data, and unified communications services and applications across Internet protocol (IP) networks. The company has a P/E ratio of 48.6, equal to the average telecommunications industry P/E ratio and above the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Acme Packet as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity. You can view the full Acme Packet Ratings Report. See all 52-week low stocks or get investment ideas from our investment research center.