NII Holdings Short Interest Up 4.2% in June (NIHD)
Shares of NII Holdings (NASDAQ:NIHD) were the target of a significant growth in short interest in June. As of June 13th, there was short interest totalling 47,413,261 shares, a growth of 4.2% from the May 30th total of 45,522,201 shares, AnalystRatings.NET reports. Approximately 27.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 5,318,783 shares, the days-to-cover ratio is presently 8.9 days.
A number of research firms have recently commented on NIHD. 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 equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. NII Holdings has a consensus rating of “Sell” and a consensus target price of $2.22.
Shares of NII Holdings (NASDAQ:NIHD) opened at 0.60 on Monday. NII Holdings has a one year low of $0.43 and a one year high of $8.28. The stock’s 50-day moving average is $0.60 and its 200-day moving average is $1.57. The company’s market cap is $103.4 million.
NII Holdings (NASDAQ:NIHD) last issued its quarterly earnings data on Monday, May 12th. The company reported ($2.19) EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted ($1.21) earnings per share. The company’s quarterly revenue was down 27.1% on a year-over-year basis. Analysts expect that NII Holdings will post $-8.10 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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