VEON Ltd. (NASDAQ:VEON) Sees Large Growth in Short Interest

VEON Ltd. (NASDAQ:VEON) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 75,600 shares, an increase of 40.5% from the March 15th total of 53,800 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 135,500 shares, the days-to-cover ratio is currently 0.6 days.

Hedge Funds Weigh In On VEON

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in VEON by 21.3% in the 1st quarter. GAMMA Investing LLC now owns 3,613 shares of the Wireless communications provider’s stock valued at $158,000 after buying an additional 635 shares during the last quarter. VR Advisory Services Ltd bought a new position in shares of VEON during the 4th quarter worth approximately $1,712,000. Tidal Investments LLC acquired a new stake in shares of VEON in the fourth quarter valued at approximately $484,000. J. Goldman & Co LP bought a new stake in shares of VEON in the fourth quarter worth $2,084,000. Finally, Diameter Capital Partners LP acquired a new position in VEON during the fourth quarter worth $25,161,000. 21.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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 report on Tuesday, March 25th.

VEON Trading Up 4.4 %

Shares of VEON stock traded up $1.86 during trading on Friday, reaching $44.32. 116,529 shares of the company were exchanged, compared to its average volume of 62,672. The business has a 50-day moving average price of $43.36 and a 200-day moving average price of $38.96. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 7.73 and a beta of 1.39. 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 has a twelve month low of $22.94 and a twelve month high of $48.39.

VEON (NASDAQ:VEON) last posted its earnings results on Thursday, March 20th. The Wireless communications provider reported $0.98 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.01 billion.

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.