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NEW YORK ( TheStreet) -- NII Holdings (Nasdaq: NIHD) hit a new 52-week low Tuesday as it is currently trading at $12.40, below its previous 52-week low of $12.42 with 458,203 shares traded as of 10:25 a.m. ET. Average volume has been 3.7 million shares over the past 30 days. NII has a market cap of $2.18 billion and is part of the technology sector and telecommunications industry. Shares are down 39.2% year to date as of the close of trading on Monday. 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 19.6, equal to the average telecommunications industry P/E ratio and above the S&P 500 P/E ratio of 17.7.