NII Holdings Stock Rating Reaffirmed by Wells Fargo & Co. (NIHD)

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NII Holdings (NASDAQ:NIHD)‘s stock had its “outperform” rating restated by investment analysts at Wells Fargo & Co. in a note issued to investors on Monday, American Banking News reports.

Shares of NII Holdings (NASDAQ:NIHD) traded down 2.56% during mid-day trading on Monday, hitting $1.14. 12,856,144 shares of the company’s stock traded hands. NII Holdings has a 52-week low of $1.09 and a 52-week high of $9.82. The stock’s 50-day moving average is $2.75 and its 200-day moving average is $3.99. The company’s market cap is $196.2 million. NII Holdings also was the target of a significant drop in short interest in the month of January. As of February 14th, there was short interest totalling 47,439,693 shares, a drop of 10.4% from the January 31st total of 52,919,803 shares. Based on an average daily volume of 4,321,622 shares, the days-to-cover ratio is currently 11.0 days. Approximately 27.8% of the company’s stock are short sold.

NII Holdings (NASDAQ:NIHD) last released its earnings data 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 $-5.60 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Thomson Reuters/Verus upgraded shares of NII Holdings from a “sell” rating to a “hold” rating in a research note on Monday. Separately, analysts at Gabelli downgraded shares of NII Holdings from a “buy” rating to a “hold” rating in a research note on Monday. Finally, analysts at William Blair downgraded shares of NII Holdings from an “outperform” rating to a “market perform” rating in a research note on Monday. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $3.29.

NII Holdings, Inc (NASDAQ:NIHD) is a holding company for the operations of Nextel Communications, Inc in selected International markets.

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