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NEW YORK ( TheStreet) -- NII Holdings (Nasdaq: NIHD) hit a new 52-week low Monday as it is currently trading at $16.63, below its previous 52-week low of $16.82 with 361,886 shares traded as of 10:05 a.m. ET. Average volume has been 2.7 million shares 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 down 18.6% year to date as of the close of trading on Friday. 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 14.8, above the average telecommunications industry P/E ratio of 10.7 and below the S&P 500 P/E ratio of 17.7.