VEON (NASDAQ:VEON) Stock Price Up 4.8% – What’s Next?

VEON Ltd. (NASDAQ:VEON)’s share price was up 4.8% on Monday . The company traded as high as $31.25 and last traded at $30.93. Approximately 26,414 shares traded hands during mid-day trading, a decline of 14% from the average daily volume of 30,620 shares. The stock had previously closed at $29.50.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of VEON from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 5th.

VEON Stock Performance

The stock’s 50-day moving average price is $28.91 and its 200 day moving average price is $26.84. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.76 and a current ratio of 0.77.

VEON (NASDAQ:VEON) last issued its earnings results on Friday, August 30th. The Wireless communications provider reported $1.00 EPS for the quarter. The company had revenue of $1.03 billion for the quarter.

Hedge Funds Weigh In On VEON

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lingotto Investment Management LLP boosted its stake in shares of VEON by 1.0% during the second quarter. Lingotto Investment Management LLP now owns 5,387,582 shares of the Wireless communications provider’s stock valued at $139,754,000 after purchasing an additional 53,807 shares in the last quarter. Helikon Investments Ltd boosted its stake in shares of VEON by 8.1% during the second quarter. Helikon Investments Ltd now owns 2,739,275 shares of the Wireless communications provider’s stock valued at $71,057,000 after purchasing an additional 206,200 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of VEON by 8.9% during the fourth quarter. Wellington Management Group LLP now owns 540,347 shares of the Wireless communications provider’s stock valued at $10,645,000 after purchasing an additional 44,013 shares in the last quarter. Gabelli Funds LLC boosted its stake in shares of VEON by 18.8% during the first quarter. Gabelli Funds LLC now owns 129,496 shares of the Wireless communications provider’s stock valued at $3,109,000 after purchasing an additional 20,456 shares in the last quarter. Finally, Samson Rock Capital LLP bought a new position in shares of VEON during the third quarter valued at approximately $913,000. 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.