VEON (NASDAQ:VEON) Stock Price Up 5% – Time to Buy?

VEON Ltd. (NASDAQ:VEON)’s stock price shot up 5% during mid-day trading on Thursday . The company traded as high as $44.14 and last traded at $44.56. 15,055 shares were traded during trading, a decline of 88% from the average session volume of 128,538 shares. The stock had previously closed at $42.46.

Analyst Ratings Changes

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

VEON Price Performance

The company’s fifty day moving average is $43.39 and its two-hundred day moving average is $39.05. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 7.73 and a beta of 1.39.

VEON (NASDAQ:VEON) last released its quarterly earnings data on Thursday, March 20th. The Wireless communications provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. VEON had a positive return on equity of 36.48% and a negative net margin of 81.71%. The company had revenue of $998.00 million for the quarter, compared to analyst estimates of $1.01 billion.

Hedge Funds Weigh In On VEON

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lingotto Investment Management LLP lifted its position in shares of VEON by 2.9% during the fourth quarter. Lingotto Investment Management LLP now owns 5,740,438 shares of the Wireless communications provider’s stock worth $230,192,000 after purchasing an additional 159,714 shares in the last quarter. Helikon Investments Ltd increased its stake in VEON by 5.0% during the 4th quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock worth $117,377,000 after buying an additional 138,149 shares during the period. Diameter Capital Partners LP acquired a new position in VEON in the 4th quarter worth $25,161,000. GAMMA Investing LLC boosted its position in VEON by 5,190.9% in the 1st quarter. GAMMA Investing LLC now owns 157,563 shares of the Wireless communications provider’s stock valued at $6,871,000 after buying an additional 154,585 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of VEON by 2.2% during the fourth quarter. Russell Investments Group Ltd. now owns 117,808 shares of the Wireless communications provider’s stock valued at $4,724,000 after acquiring an additional 2,512 shares in the last quarter. Hedge funds and other institutional investors own 21.30% of the company’s stock.

About VEON

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.