NII (NASDAQ:NIHD) Upgraded to Buy by ValuEngine

ValuEngine upgraded shares of NII (NASDAQ:NIHD) from a hold rating to a buy rating in a report published on Thursday morning, ValuEngine reports.

Shares of NIHD remained flat at $$1.68 during mid-day trading on Thursday. 1,691,605 shares of the stock traded hands, compared to its average volume of 576,930. NII has a 1-year low of $1.58 and a 1-year high of $8.51. The business has a fifty day moving average price of $1.78.

NII (NASDAQ:NIHD) last issued its quarterly earnings results on Friday, May 10th. The Wireless communications provider reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $146.80 million for the quarter.

In related news, VP Timothy M. Mulieri sold 31,848 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $1.92, for a total transaction of $61,148.16. Following the sale, the vice president now directly owns 21,848 shares in the company, valued at $41,948.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.33% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Teton Advisors Inc. increased its stake in shares of NII by 2.8% during the second quarter. Teton Advisors Inc. now owns 1,100,000 shares of the Wireless communications provider’s stock worth $1,859,000 after buying an additional 30,000 shares during the period. Gabelli Funds LLC increased its stake in shares of NII by 85.7% during the second quarter. Gabelli Funds LLC now owns 65,000 shares of the Wireless communications provider’s stock worth $110,000 after buying an additional 30,000 shares during the period. SG Americas Securities LLC increased its stake in shares of NII by 119.7% during the second quarter. SG Americas Securities LLC now owns 65,060 shares of the Wireless communications provider’s stock worth $110,000 after buying an additional 35,444 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of NII during the second quarter worth approximately $726,000. Finally, WINTON GROUP Ltd increased its stake in NII by 8.3% in the second quarter. WINTON GROUP Ltd now owns 81,206 shares of the Wireless communications provider’s stock valued at $137,000 after purchasing an additional 6,238 shares during the last quarter. Hedge funds and other institutional investors own 63.21% of the company’s stock.

NII Company Profile

NII Holdings, Inc, through its subsidiaries, provides wireless communication services to the individual consumers under the Nextel brand in Brazil. The company offers its services through wideband code division multiple access and long-term evolution networks. Its services include mobile telephone voice and wireless data, and international voice and data roaming services.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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