VEON (NASDAQ:VEON) Shares Gap Down to $2.78

VEON Ltd (NASDAQ:VEON)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $2.88, but opened at $2.78. VEON shares last traded at $2.69, with a volume of 3,202,691 shares trading hands.

VEON has been the topic of several recent research reports. BidaskClub raised VEON from a “hold” rating to a “buy” rating in a report on Tuesday, July 9th. Zacks Investment Research cut VEON from a “buy” rating to a “hold” rating in a research report on Saturday, July 13th. Bank of America upgraded VEON from a “neutral” rating to a “buy” rating and set a $3.17 price target for the company in a research report on Tuesday, July 9th. UBS Group upgraded VEON from a “neutral” rating to a “buy” rating and set a $3.00 price target for the company in a research report on Monday, June 17th. Finally, Goldman Sachs Group upgraded VEON from a “neutral” rating to a “buy” rating and lifted their price target for the company from $3.40 to $4.00 in a research report on Thursday, July 11th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $3.19.

The business has a 50 day simple moving average of $2.96. The company has a market capitalization of $4.88 billion, a P/E ratio of -11.70 and a beta of 1.83. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.58 and a current ratio of 0.61.



VEON (NASDAQ:VEON) last released its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.05). VEON had a negative return on equity of 15.89% and a net margin of 12.37%. The company had revenue of $2.26 billion for the quarter. Equities analysts forecast that VEON Ltd will post 0.39 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of VEON. Prosperity Capital Management Ltd acquired a new position in shares of VEON during the 1st quarter worth about $93,487,000. TT International purchased a new position in shares of VEON during the 2nd quarter worth approximately $64,410,000. Exor Investments UK LLP raised its stake in shares of VEON by 14.3% during the 1st quarter. Exor Investments UK LLP now owns 43,054,134 shares of the Wireless communications provider’s stock worth $89,983,000 after buying an additional 5,396,342 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of VEON by 477.9% during the 2nd quarter. Renaissance Technologies LLC now owns 4,765,370 shares of the Wireless communications provider’s stock worth $13,343,000 after buying an additional 3,940,770 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of VEON by 381.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 3,684,692 shares of the Wireless communications provider’s stock worth $10,316,000 after buying an additional 2,919,723 shares in the last quarter. Hedge funds and other institutional investors own 14.50% of the company’s stock.

VEON Company Profile (NASDAQ:VEON)

VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of mobile and fixed-line technologies. The company provides value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile internet, downloadable content, mobile finance services, machine-to-machine, and other services; national and international roaming services; wireless Internet access and mobile financial services; and mobile bundles and call completion services.

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