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

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

Wall Street Analyst Weigh In

Separately, Benchmark raised their price objective on VEON from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, March 25th.

VEON Price Performance

The firm has a market cap of $4.17 billion, a PE ratio of 8.89 and a beta of 1.43. The firm’s fifty day simple moving average is $44.89 and its two-hundred day simple moving average is $41.68. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.34.

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

Institutional Trading of VEON

Institutional investors have recently made changes to their positions in the business. Diameter Capital Partners LP purchased a new position in shares of VEON in the fourth quarter worth $25,161,000. Lingotto Investment Management LLP increased its holdings in VEON by 2.9% in the 4th quarter. Lingotto Investment Management LLP now owns 5,740,438 shares of the Wireless communications provider’s stock valued at $230,192,000 after acquiring an additional 159,714 shares during the last quarter. GAMMA Investing LLC increased its holdings 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 acquiring an additional 154,585 shares during the last quarter. Helikon Investments Ltd lifted its stake in VEON by 5.0% in the 4th quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock worth $117,377,000 after purchasing an additional 138,149 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of VEON by 22.3% during the 1st quarter. Wellington Management Group LLP now owns 647,096 shares of the Wireless communications provider’s stock valued at $28,220,000 after purchasing an additional 117,945 shares during the last quarter. Hedge funds and other institutional investors 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.