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NEW YORK ( TheStreet) -- Acme Packet (Nasdaq: APKT) hit a new 52-week low Friday as it is currently trading at $22.15, below its previous 52-week low of $22.16 with 415,715 shares traded as of 10:59 a.m. ET. Average volume has been 2.3 million shares over the past 30 days. Acme Packet has a market cap of $1.62 billion and is part of the technology sector and telecommunications industry. Shares are down 23.3% year to date as of the close of trading on Thursday. 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 50.4, equal to the average telecommunications industry P/E ratio and above the S&P 500 P/E ratio of 17.7.