NEW YORK (

TheStreet

) --

Level three Communications

(NYSE:

LVLT

) is trading at unusually high volume Wednesday with 7.8 million shares changing hands. It is currently at 4.1 times its average daily volume and trading down $1.99 (-9.8%) at $18.43 as of 3:59 p.m. ET.

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Level three has a market cap of $4.51 billion and is part of the

technology

sector and

telecommunications

industry. Shares are up 20.2% year to date as of the close of trading on Tuesday.

Level three Communications, Inc., together with its subsidiaries, operates as a facilities-based provider of a range of communications services primarily in North America, Europe, and rest of Latin America. It operates through two segments, Level three and Global Crossing.

TheStreet Ratings rates Level three as a

hold

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including generally poor debt management and a generally disappointing performance in the stock itself. You can view the full

Level three Ratings Report

.

See all heavy volume stocks in our

stocks moving on unusual volume list

or get investment ideas from our

investment research center

.

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