VEON (NASDAQ:VEON) Trading 5% Higher – Still a Buy?

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

Analyst Upgrades and Downgrades

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

VEON Trading Up 4.4 %

The business’s fifty day moving average price is $43.39 and its 200 day moving average price is $39.05. 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 firm has a market capitalization of $3.28 billion, a PE ratio of 7.73 and a beta of 1.39.

VEON (NASDAQ:VEON) last issued its quarterly earnings results on Thursday, March 20th. The Wireless communications provider reported $0.98 earnings per share 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 during the quarter, compared to the consensus estimate of $1.01 billion.

Institutional Trading of VEON

A number of hedge funds have recently added to or reduced their stakes in VEON. SBI Securities Co. Ltd. purchased a new position in shares of VEON during the 4th quarter worth about $58,000. Helikon Investments Ltd raised its stake in VEON by 5.0% during the fourth 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 during the period. Samson Rock Capital LLP boosted its holdings in shares of VEON by 20.0% in the 4th quarter. Samson Rock Capital LLP now owns 36,000 shares of the Wireless communications provider’s stock valued at $1,444,000 after purchasing an additional 6,000 shares during the last quarter. Lingotto Investment Management LLP grew its stake in shares of VEON by 2.9% during 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 buying an additional 159,714 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of VEON by 41.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock worth $81,000 after buying an additional 776 shares during the last quarter. 21.30% of the stock is owned by institutional investors and hedge funds.

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.