NII (NIHD) Shares Up 8.2%

Shares of NII Holdings (NASDAQ:NIHD) shot up 8.2% during trading on Wednesday . The stock traded as high as $2.42 and last traded at $2.37. 1,032,059 shares changed hands during trading, a decline of 42% from the average session volume of 1,764,237 shares. The stock had previously closed at $2.19.

Several research firms have commented on NIHD. ValuEngine raised shares of NII from a “sell” rating to a “hold” rating in a research report on Friday, May 4th. BidaskClub lowered shares of NII from a “buy” rating to a “hold” rating in a research report on Monday, May 14th.

The company has a current ratio of 1.47, a quick ratio of 1.45 and a debt-to-equity ratio of -5.63.

NII (NASDAQ:NIHD) last announced its quarterly earnings data on Tuesday, May 8th. The Wireless communications provider reported ($0.43) EPS for the quarter. The company had revenue of $181.00 million during the quarter. NII had a negative net margin of 31.46% and a negative return on equity of 433.00%.

In related news, major shareholder 683 Capital Management, Llc acquired 707,092 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average cost of $0.80 per share, with a total value of $565,673.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders purchased a total of 2,081,437 shares of company stock valued at $1,991,380 over the last ninety days. 0.30% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Spark Investment Management LLC purchased a new position in shares of NII in the 1st quarter valued at approximately $117,000. Element Capital Management LLC purchased a new position in shares of NII in the 1st quarter valued at approximately $133,000. Citigroup Inc. raised its position in shares of NII by 42,134.8% in the 1st quarter. Citigroup Inc. now owns 75,178 shares of the Wireless communications provider’s stock valued at $159,000 after purchasing an additional 75,000 shares during the last quarter. Ursa Fund Management LLC purchased a new position in shares of NII in the 1st quarter valued at approximately $264,000. Finally, Tibra Equities Europe Ltd purchased a new position in shares of NII in the 1st quarter valued at approximately $394,000. 63.48% of the stock is owned by hedge funds and other institutional investors.

NII Company Profile

NII Holdings, Inc, through its subsidiaries, provides wireless communication services to the individual consumers under the Nextel brand in Brazil. The company offers its services through wideband code division multiple access and long-term evolution networks. Its services include mobile telephone voice and wireless data, international voice and data roaming, and application-based radio connection services.

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