Short Interest in VEON Ltd (VEON) Drops By 9.4%

VEON Ltd (NASDAQ:VEON) saw a significant drop in short interest in the month of August. As of August 15th, there was short interest totalling 14,052,939 shares, a drop of 9.4% from the July 31st total of 15,518,511 shares. Based on an average daily volume of 2,419,435 shares, the days-to-cover ratio is presently 5.8 days.

VEON has been the topic of several research reports. Goldman Sachs Group raised VEON from a “neutral” rating to a “buy” rating and set a $4.00 price objective on the stock in a research report on Thursday, July 5th. Zacks Investment Research lowered VEON from a “hold” rating to a “sell” rating in a research report on Saturday, June 30th. BidaskClub lowered VEON from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 24th. Bank of America lowered VEON from a “buy” rating to a “neutral” rating in a research report on Thursday, June 21st. Finally, ValuEngine raised VEON from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $3.50.

Several hedge funds and other institutional investors have recently made changes to their positions in VEON. Atria Investments LLC increased its position in shares of VEON by 107.8% during the first quarter. Atria Investments LLC now owns 41,929 shares of the Wireless communications provider’s stock worth $111,000 after acquiring an additional 21,748 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of VEON by 85.8% during the second quarter. Tower Research Capital LLC TRC now owns 63,137 shares of the Wireless communications provider’s stock worth $150,000 after acquiring an additional 29,164 shares during the last quarter. UBS Group AG increased its position in shares of VEON by 45.4% during the first quarter. UBS Group AG now owns 78,632 shares of the Wireless communications provider’s stock worth $208,000 after acquiring an additional 24,555 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of VEON by 108.2% during the first quarter. Cubist Systematic Strategies LLC now owns 94,584 shares of the Wireless communications provider’s stock worth $250,000 after acquiring an additional 49,161 shares during the last quarter. Finally, FDx Advisors Inc. increased its position in shares of VEON by 53.5% during the first quarter. FDx Advisors Inc. now owns 99,346 shares of the Wireless communications provider’s stock worth $262,000 after acquiring an additional 34,613 shares during the last quarter. 14.18% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ VEON opened at $2.85 on Tuesday. VEON has a 1 year low of $2.20 and a 1 year high of $4.47. The stock has a market cap of $4.81 billion, a PE ratio of 47.50 and a beta of 2.37. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.94 and a current ratio of 0.97.

VEON Company Profile

VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of traditional and broadband mobile and fixed line technologies. The company provides mobile telecommunications services under contract and prepaid plans for corporate and consumer segments; value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile Internet, downloadable content, mobile finance, machine-to-machine, and other services; national and international roaming services; and mobile bundles.

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