Short Interest in NII Holdings Inc (NASDAQ:NIHD) Declines By 16.5%
NII Holdings Inc (NASDAQ:NIHD) was the target of a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 6,052,700 shares, a decrease of 16.5% from the June 15th total of 7,247,500 shares. Currently, 7.2% of the shares of the stock are sold short. Based on an average daily volume of 1,020,000 shares, the days-to-cover ratio is currently 5.9 days.
Shares of NII stock traded down $0.05 on Monday, hitting $1.73. The company’s stock had a trading volume of 561,000 shares, compared to its average volume of 1,249,791. NII has a 52-week low of $1.58 and a 52-week high of $8.51. The business has a fifty day moving average of $1.79.
NII (NASDAQ:NIHD) last released its quarterly earnings data on Friday, May 10th. The Wireless communications provider reported $0.02 EPS for the quarter. The business had revenue of $146.80 million during the quarter.
Institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC purchased a new stake in shares of NII in the 4th quarter worth about $45,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of NII in the 4th quarter worth about $53,000. Penn Capital Management Co. Inc. purchased a new stake in shares of NII in the 4th quarter worth about $53,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of NII in the 1st quarter worth about $26,000. Finally, Great West Life Assurance Co. Can purchased a new stake in shares of NII in the 4th quarter worth about $76,000. Institutional investors and hedge funds own 63.21% of the company’s stock.
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, and international voice and data roaming services.
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