VEON (NASDAQ:VEON) Trading Up 4.8% – Time to Buy?

VEON Ltd. (NASDAQ:VEON) shares were up 4.8% during mid-day trading on Monday . The company traded as high as $57.00 and last traded at $57.34. Approximately 55,028 shares were traded during trading, a decline of 62% from the average daily volume of 145,454 shares. The stock had previously closed at $54.70.

Analysts Set New Price Targets

Separately, Benchmark increased their price objective on shares of VEON from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, March 25th.

VEON Stock Up 3.6%

The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.34. The business’s 50 day simple moving average is $44.24 and its 200 day simple moving average is $41.40. The company has a market capitalization of $4.19 billion, a PE ratio of 8.94 and a beta of 1.43.

VEON (NASDAQ:VEON) last issued its quarterly earnings results on Thursday, May 15th. The Wireless communications provider reported $1.36 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.53. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $996.00 million. VEON had a positive return on equity of 36.48% and a negative net margin of 81.71%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VEON. Rhumbline Advisers raised its holdings in shares of VEON by 300.0% in the 4th quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider’s stock valued at $29,000 after buying an additional 540 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of VEON in the 4th quarter worth approximately $58,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of VEON by 100.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440 shares of the Wireless communications provider’s stock worth $58,000 after buying an additional 720 shares in the last quarter. JPMorgan Chase & Co. grew 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 valued at $81,000 after buying an additional 776 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of VEON in the fourth quarter worth about $101,000. 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.