VEON (NASDAQ:VEON) Shares Gap Up – Time to Buy?

VEON Ltd. (NASDAQ:VEON)’s share price gapped up prior to trading on Monday . The stock had previously closed at $42.63, but opened at $45.10. VEON shares last traded at $47.22, with a volume of 103,742 shares trading hands.

Wall Street Analyst Weigh In

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

VEON Price Performance

The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 2.34. The stock has a market cap of $3.34 billion, a PE ratio of 7.89 and a beta of 1.39. The company has a fifty day moving average of $43.18 and a 200-day moving average of $39.75.

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, 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 for the quarter, compared to the consensus estimate of $1.01 billion.

Institutional Investors Weigh In On VEON

Several large investors have recently bought and sold shares of VEON. Rhumbline Advisers increased its holdings in VEON by 300.0% during the 4th quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider’s stock worth $29,000 after purchasing an additional 540 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of VEON in the 4th quarter valued at about $58,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of VEON by 100.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440 shares of the Wireless communications provider’s stock valued at $58,000 after purchasing an additional 720 shares during the period. JPMorgan Chase & Co. boosted its position in shares of VEON by 41.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock valued at $81,000 after purchasing an additional 776 shares during the period. Finally, R Squared Ltd acquired a new position in shares of VEON during the 4th quarter worth $101,000. Hedge funds and other institutional investors own 21.30% of the company’s stock.

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.