VEON (NASDAQ:VEON) Trading 1.5% Higher – Here’s What Happened

Shares of 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 were traded during 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 initiated coverage on shares of VEON in a report on Tuesday, November 12th. They set a “buy” rating and a $48.00 price objective on the stock.

VEON Price Performance

The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.76 and a current ratio of 0.77. The business’s fifty day simple moving average is $33.58 and its 200 day simple moving average is $29.74. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 6.06 and a beta of 1.55.

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

Institutional Investors Weigh In On VEON

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Lingotto Investment Management LLP raised its stake in shares of VEON by 1.0% in the 2nd quarter. Lingotto Investment Management LLP now owns 5,387,582 shares of the Wireless communications provider’s stock worth $139,754,000 after buying an additional 53,807 shares in the last quarter. Samson Rock Capital LLP acquired a new position in shares of VEON in the 3rd quarter worth approximately $913,000. Helikon Investments Ltd lifted its stake in VEON by 1.8% during the third quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock valued at $84,840,000 after purchasing an additional 49,680 shares during the last quarter. Citigroup Inc. boosted its holdings in VEON by 13.4% during the third quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock worth $7,567,000 after buying an additional 29,350 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of VEON in the third quarter valued at $2,069,000. 21.30% of the stock is currently owned by institutional investors.

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.