VEON (NASDAQ:VEON) Stock Price Up 5.2% – What’s Next?

VEON Ltd. (NASDAQ:VEON)’s stock price shot up 5.2% on Monday . The stock traded as high as $44.00 and last traded at $44.23. 17,974 shares traded hands during trading, a decline of 67% from the average session volume of 54,589 shares. The stock had previously closed at $42.04.

Wall Street Analyst Weigh In

Separately, Benchmark increased their target price on shares of VEON from $48.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, March 3rd.

VEON Trading Up 5.3 %

The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 5.92 and a beta of 1.47. The business has a 50-day moving average of $44.32 and a 200-day moving average of $36.57. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.80 and a current ratio of 0.81.

VEON (NASDAQ:VEON) last announced its earnings results on Friday, December 13th. The Wireless communications provider reported $3.00 EPS for the quarter. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%.

Hedge Funds Weigh In On VEON

Hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of VEON in the 3rd quarter worth $2,069,000. SBI Securities Co. Ltd. purchased a new stake in VEON in the 4th quarter valued at approximately $58,000. Citigroup Inc. boosted its holdings in VEON by 13.4% in the 3rd 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. Helikon Investments Ltd increased its position in VEON by 5.0% during the 4th quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock worth $117,377,000 after purchasing an additional 138,149 shares during the period. Finally, Samson Rock Capital LLP raised its stake in shares of VEON by 20.0% during the 4th quarter. Samson Rock Capital LLP now owns 36,000 shares of the Wireless communications provider’s stock worth $1,444,000 after buying an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 21.30% of the company’s stock.

About VEON

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.