VEON (NASDAQ:VEON) Trading Up 7.2% – Time to Buy?

Shares of VEON Ltd. (NASDAQ:VEON) shot up 7.2% during trading on Thursday . The stock traded as high as $43.07 and last traded at $43.00. 33,292 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 36,856 shares. The stock had previously closed at $40.10.

Analyst Upgrades and Downgrades

Separately, Benchmark began coverage on VEON in a report on Tuesday, November 12th. They set a “buy” rating and a $48.00 price objective on the stock.

VEON Trading Up 4.1 %

The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 2.66. The company has a 50 day moving average of $34.79 and a 200 day moving average of $30.35. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 7.00 and a beta of 1.51.

VEON (NASDAQ:VEON) last released its earnings results 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 large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of VEON by 41.5% during the third quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock worth $81,000 after acquiring an additional 776 shares during the period. GAMMA Investing LLC acquired a new position in shares of VEON in the fourth quarter valued at approximately $119,000. Citigroup Inc. raised its position in VEON by 13.4% during the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock worth $7,567,000 after purchasing an additional 29,350 shares during the last quarter. Samson Rock Capital LLP acquired a new position in shares of VEON in the 3rd quarter worth approximately $913,000. Finally, Helikon Investments Ltd boosted its position in shares of VEON by 1.8% during the 3rd 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 in the last quarter. Institutional investors and hedge funds 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.