BidaskClub downgraded shares of NII (NASDAQ:NIHD) from a buy rating to a hold rating in a research report sent to investors on Thursday.

Separately, ValuEngine cut shares of NII from a buy rating to a hold rating in a research note on Wednesday.

Shares of NII traded up $0.41, reaching $5.38, during midday trading on Thursday, according to Marketbeat Ratings. 3,194,880 shares of the company were exchanged, compared to its average volume of 2,976,076. NII has a one year low of $0.22 and a one year high of $7.29. The company has a quick ratio of 1.45, a current ratio of 1.42 and a debt-to-equity ratio of -3.67.

Several large investors have recently modified their holdings of the company. First Manhattan Co. raised its holdings in shares of NII by 20.0% during the 2nd quarter. First Manhattan Co. now owns 60,000 shares of the Wireless communications provider’s stock worth $234,000 after acquiring an additional 10,000 shares during the period. State Board of Administration of Florida Retirement System acquired a new position in shares of NII during the second quarter worth about $128,000. Water Island Capital LLC acquired a new position in shares of NII during the second quarter worth about $211,000. Spark Investment Management LLC acquired a new position in shares of NII during the first quarter worth about $117,000. Finally, Element Capital Management LLC acquired a new position in shares of NII during the first quarter worth about $133,000. 62.83% of the stock is currently owned by hedge funds and other institutional investors.

About NII

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, international voice and data roaming, and application-based radio connection services.

Featured Article: Price to Earnings Ratio (PE), For Valuing Stocks

Receive News & Ratings for NII Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NII and related companies with MarketBeat.com's FREE daily email newsletter.