NII Holdings Sees Significant Growth in Short Interest (NIHD)
NII Holdings (NASDAQ:NIHD) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 41,184,914 shares, a growth of 5.7% from the March 31st total of 38,968,912 shares, Analyst Ratings Network.com reports. Based on an average daily trading volume, of 2,753,316 shares, the short-interest ratio is presently 15.0 days. Approximately 24.2% of the company’s shares are short sold.
A number of research firms have recently commented on NIHD. Analysts at Citigroup Inc. reiterated a “sell” rating on shares of NII Holdings in a research note on Tuesday. They now have a $0.70 price target on the stock. Separately, analysts at Barclays cut their price target on shares of NII Holdings from $2.50 to $0.50 in a research note on Friday, April 11th. They now have an “underweight” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of NII Holdings in a research note on Friday, April 4th. They now have a $1.25 price target on the stock. Five research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. NII Holdings presently has an average rating of “Hold” and an average target price of $2.22.
Shares of NII Holdings (NASDAQ:NIHD) opened at 0.8599 on Thursday. NII Holdings has a one year low of $0.82 and a one year high of $9.05. The stock’s 50-day moving average is $1.06 and its 200-day moving average is $2.46. The company’s market cap is $148.0 million.
NII Holdings (NASDAQ:NIHD) last posted its quarterly earnings results on Friday, February 28th. The company reported ($4.33) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($1.59) by $2.74. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the company posted ($3.45) earnings per share. The company’s quarterly revenue was down 21.8% on a year-over-year basis. On average, analysts predict that NII Holdings will post $-7.45 earnings per share for the current fiscal year.
NII Holdings, Inc (NASDAQ:NIHD) is a holding company for the operations of Nextel Communications, Inc in selected International markets.
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