Tele Norte Leste Holding Rises On Unusually High Volume (TNE)
Tele Norte Leste Holding Company (NYSE:TNE) is trading at unusually high volume Thursday with 4.2 million shares changing hands. It is currently at 4.2 times its average daily volume and trading up 20 cents (+2%).
NEW YORK ( TheStreet) -- Tele Norte Leste Holding Company (NYSE: TNE) is trading at unusually high volume Thursday with 4.2 million shares changing hands. It is currently at 4.2 times its average daily volume and trading up 20 cents (+2%) at $9.88 as of 1:30 p.m. ET. Tele Norte Leste Holding has a market cap of $4.38 billion and is part of the technology sector and telecommunications industry. Shares are up 1.8% year to date as of the close of trading on Wednesday. Tele Norte Leste Participacoes S.A. provides integrated telecommunication services in Brazil. It operates in three segments: Fixed-Line Services, Mobile Services, and Other. The company has a P/E ratio of 17.7, above the average telecommunications industry P/E ratio of 13.3 and equal to the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Tele Norte Leste Holding as a hold. The company's strengths can be seen in multiple areas, such as its attractive valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, generally poor debt management and a generally disappointing performance in the stock itself. You can view the full Tele Norte Leste Holding Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are rising on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVUP to 95370 or select from multiple alert options.