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

VEON Ltd (NASDAQ:VEON) saw a large growth in short interest in October. As of October 15th, there was short interest totalling 6,350,000 shares, a growth of 51.2% from the September 15th total of 4,200,000 shares. Based on an average daily volume of 5,490,000 shares, the short-interest ratio is presently 1.2 days. Currently, 0.4% of the company’s stock are short sold.

Several hedge funds and other institutional investors have recently modified their holdings of the company. GABELLI & Co INVESTMENT ADVISERS INC. raised its position in shares of VEON by 27.3% during the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 28,000 shares of the Wireless communications provider’s stock worth $78,000 after acquiring an additional 6,000 shares in the last quarter. Corient Capital Partners LLC raised its position in shares of VEON by 56.9% during the 2nd quarter. Corient Capital Partners LLC now owns 16,788 shares of the Wireless communications provider’s stock worth $47,000 after acquiring an additional 6,085 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of VEON by 3.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 258,615 shares of the Wireless communications provider’s stock worth $724,000 after acquiring an additional 7,450 shares in the last quarter. UBS Group AG raised its position in shares of VEON by 0.4% during the 2nd quarter. UBS Group AG now owns 2,417,781 shares of the Wireless communications provider’s stock worth $6,770,000 after acquiring an additional 9,365 shares in the last quarter. Finally, AdvisorNet Financial Inc acquired a new stake in shares of VEON during the 3rd quarter worth about $26,000. 17.83% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ VEON opened at $2.36 on Tuesday. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.58 and a current ratio of 0.61. VEON has a fifty-two week low of $2.07 and a fifty-two week high of $3.28. The firm has a market capitalization of $4.16 billion, a PE ratio of -10.26 and a beta of 1.82. The stock’s 50-day simple moving average is $2.41 and its 200-day simple moving average is $2.56.

VEON (NASDAQ:VEON) last issued its earnings results on Thursday, August 1st. The Wireless communications provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.05). VEON had a negative return on equity of 15.89% and a net margin of 12.37%. The business had revenue of $2.26 billion for the quarter. On average, sell-side analysts forecast that VEON will post 0.36 earnings per share for the current fiscal year.

A number of research firms have issued reports on VEON. TheStreet raised VEON from a “d+” rating to a “c-” rating in a research report on Thursday, July 11th. BidaskClub raised VEON from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Zacks Investment Research reaffirmed a “hold” rating on shares of VEON in a research report on Saturday. Bank of America raised VEON from a “neutral” rating to a “buy” rating and set a $3.17 price target on the stock in a research report on Tuesday, July 9th. Finally, ValuEngine lowered VEON from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $3.19.

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 mobile and fixed-line technologies. The company provides value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile internet, downloadable content, mobile finance services, machine-to-machine, and other services; national and international roaming services; wireless Internet access and mobile financial services; and mobile bundles and call completion services.

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