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Shares of NII Holdings (NASDAQ:NIHD) were the target of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totalling 37,259,766 shares, a decrease of 4.1% from the July 31st total of 38,862,731 shares, ARN reports. Approximately 22.0% of the shares of the stock are sold short. Based on an average daily volume of 10,628,881 shares, the days-to-cover ratio is presently 3.5 days.

Separately, analysts at Wells Fargo & Co. downgraded shares of NII Holdings from a “market perform” rating to an “underperform” rating in a research note on Tuesday, August 12th. Six analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. NII Holdings has an average rating of “Sell” and an average price target of $2.06.

Shares of NII Holdings (NASDAQ:NIHD) opened at 0.1376 on Wednesday. NII Holdings has a 1-year low of $0.12 and a 1-year high of $7.50. The stock’s 50-day moving average is $0.4 and its 200-day moving average is $0.85. The company’s market cap is $23.7 million.

NII Holdings (NASDAQ:NIHD) last posted its quarterly earnings results on Monday, August 11th. The company reported ($3.65) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($2.30) by $1.35. The company had revenue of $969.00 million for the quarter, compared to the consensus estimate of $948.10 million. During the same quarter in the prior year, the company posted ($2.30) earnings per share. The company’s quarterly revenue was down 23.1% on a year-over-year basis. On average, analysts predict that NII Holdings will post $-8.26 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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