VEON (NASDAQ:VEON) Shares Up 1.5% – What’s Next?

VEON Ltd. (NASDAQ:VEON) traded up 1.5% during mid-day trading on Friday . The stock traded as high as $38.81 and last traded at $38.57. 33,526 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 35,023 shares. The stock had previously closed at $38.00.

Wall Street Analyst Weigh In

Separately, Benchmark assumed coverage on shares of VEON in a research note on Tuesday, November 12th. They set a “buy” rating and a $48.00 target price for the company.

VEON Trading Up 2.5 %

The firm has a market capitalization of $2.88 billion, a P/E ratio of 6.14 and a beta of 1.55. The stock has a 50-day simple moving average of $33.77 and a two-hundred day simple moving average of $29.85. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 2.66.

VEON (NASDAQ:VEON) last released its quarterly earnings data on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share for the quarter. VEON had a positive return on equity of 28.73% and a negative net margin of 77.48%.

Institutional Investors Weigh In On VEON

Several hedge funds have recently modified their holdings of VEON. JPMorgan Chase & Co. increased its holdings in VEON by 41.5% during the third quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock valued at $81,000 after buying an additional 776 shares during the period. Samson Rock Capital LLP purchased a new position in shares of VEON in the 3rd quarter valued at $913,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of VEON in the 3rd quarter worth $2,069,000. Citigroup Inc. boosted its position in VEON by 13.4% during the third quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock valued at $7,567,000 after purchasing an additional 29,350 shares in the last quarter. Finally, Helikon Investments Ltd raised its holdings in VEON by 1.8% in the third quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock worth $84,840,000 after purchasing an additional 49,680 shares in the last quarter. Hedge funds and other institutional investors own 21.30% of the company’s stock.

VEON Company Profile

VEON Ltd., a digital operator, provides connectivity and internet services in Pakistan, Ukraine, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan. It offers mobile telecommunications services, including value added and call completion, national and international roaming, wireless Internet access, mobile financial, and mobile bundle services; data connectivity, cross border transit, voice, Internet, and data services; fixed-line telecommunications using intercity fiber optic networks; and Internet-TV using Fiber to the building technology.