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NEW YORK ( TheStreet) -- NII Holdings (Nasdaq: NIHD) hit a new 52-week low Wednesday as it is currently trading at $12.18, below its previous 52-week low of $12.20 with 3.5 million shares traded as of 3:26 p.m. ET. Average volume has been 3.9 million shares over the past 30 days. NII has a market cap of $2.13 billion and is part of the technology sector and telecommunications industry. Shares are down 40.2% year to date as of the close of trading on Tuesday. 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 19.1, equal to the average telecommunications industry P/E ratio and above the S&P 500 P/E ratio of 17.7.