NEW YORK ( TheStreet) -- Level three Communications (NYSE: LVLT) is trading at unusually high volume Wednesday with 7.8 million shares changing hands. It is currently at 4.1 times its average daily volume and trading down $1.99 (-9.8%) at $18.43 as of 3:59 p.m. ET.
Level three has a market cap of $4.51 billion and is part of the technology sector and telecommunications industry. Shares are up 20.2% year to date as of the close of trading on Tuesday. Level three Communications, Inc., together with its subsidiaries, operates as a facilities-based provider of a range of communications services primarily in North America, Europe, and rest of Latin America. It operates through two segments, Level three and Global Crossing. TheStreet Ratings rates Level three as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including generally poor debt management and a generally disappointing performance in the stock itself. You can view the full Level three Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.