NII Holdings Short Interest Up 6.7% in May (NIHD)
NII Holdings (NASDAQ:NIHD) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 45,179,374 shares, a growth of 6.7% from the April 30th total of 42,351,534 shares, Stock Ratings Network reports. Approximately 26.7% of the company’s shares are short sold. Based on an average daily trading volume, of 3,446,757 shares, the days-to-cover ratio is presently 13.1 days.
Several analysts have recently commented on the stock. Analysts at Gabelli downgraded shares of NII Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, May 14th. Separately, analysts at Goldman Sachs reiterated a “sell” rating on shares of NII Holdings in a research note on Monday, May 12th. Finally, analysts at Citigroup Inc. reiterated a “sell” rating on shares of NII Holdings in a research note on Tuesday, April 29th. They now have a $0.70 price target on the stock. Six analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The stock has an average rating of “Sell” and an average target price of $2.22.
NII Holdings (NASDAQ:NIHD) opened at 0.50 on Monday. NII Holdings has a 1-year low of $0.46 and a 1-year high of $8.28. The stock has a 50-day moving average of $0.77 and a 200-day moving average of $1.86. The company’s market cap is $86.2 million.
NII Holdings (NASDAQ:NIHD) last posted its quarterly earnings results on Monday, May 12th. The company reported ($2.19) earnings per share for the quarter, missing the analysts’ consensus estimate of ($2.05) by $0.14. The company had revenue of $970.20 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the company posted ($1.21) earnings per share. NII Holdings’s revenue was down 27.1% compared to the same quarter last year. Analysts expect that NII Holdings will post $-7.82 EPS 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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