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NEW YORK ( TheStreet) -- Telefonica Brasil S.A (NYSE: VIV) hit a new 52-week low Thursday as it is currently trading at $23.36, below its previous 52-week low of $23.69 with 705,979 shares traded as of 10:25 a.m. ET. Average volume has been 1.5 million shares over the past 30 days. Telefonica Brasil S.A has a market cap of $27.88 billion and is part of the technology sector and telecommunications industry. Shares are down 9.2% year to date as of the close of trading on Wednesday. Telefonica Brasil, S.A. provides fixed-line telecommunications services to residential and commercial customers in the state of Sao Paulo, Brazil. The company has a P/E ratio of 6.5, below the average telecommunications industry P/E ratio of 9.9 and below the S&P 500 P/E ratio of 17.7.