VEON Ltd. (NASDAQ:VEON) Short Interest Up 40.5% in March

VEON Ltd. (NASDAQ:VEON) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 75,600 shares, a growth of 40.5% from the March 15th total of 53,800 shares. Based on an average trading volume of 135,500 shares, the short-interest ratio is presently 0.6 days. Approximately 0.1% of the shares of the stock are short sold.

VEON Price Performance

NASDAQ:VEON traded up $1.86 on Friday, reaching $44.32. The stock had a trading volume of 116,529 shares, compared to its average volume of 62,672. 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 company has a market capitalization of $3.28 billion, a P/E ratio of 7.73 and a beta of 1.39. VEON has a 1-year low of $22.94 and a 1-year high of $48.39. The stock has a fifty day moving average price of $43.36 and a 200-day moving average price of $38.96.

VEON (NASDAQ:VEON) last issued its quarterly earnings data on Thursday, March 20th. The Wireless communications provider reported $0.98 earnings per share (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 firm had revenue of $998.00 million during the quarter, compared to the consensus estimate of $1.01 billion.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On VEON

A number of hedge funds have recently added to or reduced their stakes in the stock. Diameter Capital Partners LP bought a new stake in shares of VEON during the fourth quarter valued at approximately $25,161,000. Lingotto Investment Management LLP boosted its position 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 buying an additional 159,714 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of 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 period. Helikon Investments Ltd increased its stake in shares of VEON by 5.0% in the 4th quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock valued at $117,377,000 after buying an additional 138,149 shares during the period. Finally, Cyrus Capital Partners L.P. bought a new stake in shares of VEON during the fourth quarter worth $2,994,000. 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.