Shares of NII Holdings (Nasdaq:NIHD) were gapping down Thursday morning with an open price 10.5% lower than Wednesday's closing price. The stock closed at $23.51 yesterday and opened today's trading at $21.05.
NEW YORK ( TheStreet) -- Shares of NII Holdings (Nasdaq: NIHD) were gapping down Thursday morning with an open price 10.5% lower than Wednesday's closing price. The stock closed at $23.51 Wednesday and opened today's trading at $21.05. The average volume for NII has been 2.7 million shares per day over the past 30 days. NII has a market cap of $3.24 billion and is part of the technology sector and telecommunications industry. Shares are up 10.4% year to date as of the close of trading on Wednesday. NII Holdings, Inc., through its subsidiaries, provides wireless communication services under the Nextel brand name to businesses and individuals in Mexico, Brazil, Argentina, Peru, and Chile. The company has a P/E ratio of 13.7, above the average telecommunications industry P/E ratio of 10.7 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates NII as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and unimpressive growth in net income. You can view the full NII Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping down? Get free SMS text alerts sent to you when the action happens by texting DOWN to 95370 or select from multiple alert options.