VEON (NASDAQ:VEON) Shares Up 4.8% – Should You Buy?

VEON Ltd. (NASDAQ:VEON)’s share price rose 4.8% during trading on Monday . The company traded as high as $57.00 and last traded at $57.34. Approximately 55,028 shares traded hands during trading, a decline of 62% from the average daily volume of 145,454 shares. The stock had previously closed at $54.70.

Analyst Upgrades and Downgrades

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

VEON Trading Up 3.6%

The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.80 and a current ratio of 0.81. The company’s 50 day moving average price is $44.24 and its 200 day moving average price is $41.40. The company has a market cap of $4.19 billion, a price-to-earnings ratio of 8.94 and a beta of 1.43.

VEON (NASDAQ:VEON) last released its quarterly earnings results on Thursday, May 15th. The Wireless communications provider reported $1.36 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.53. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $996.00 million.

Institutional Trading of VEON

Hedge funds have recently modified their holdings of the stock. Lingotto Investment Management LLP lifted its holdings in VEON by 2.9% during the fourth quarter. Lingotto Investment Management LLP now owns 5,740,438 shares of the Wireless communications provider’s stock valued at $230,192,000 after purchasing an additional 159,714 shares during the last quarter. Helikon Investments Ltd lifted its position 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 worth $117,377,000 after purchasing an additional 138,149 shares during the period. Wellington Management Group LLP boosted its holdings in shares of VEON by 22.3% during the 1st quarter. Wellington Management Group LLP now owns 647,096 shares of the Wireless communications provider’s stock valued at $28,220,000 after buying an additional 117,945 shares in the last quarter. Diameter Capital Partners LP bought a new stake in VEON during the 4th quarter valued at about $25,161,000. Finally, GAMMA Investing LLC lifted its stake in VEON by 5,190.9% during the 1st quarter. GAMMA Investing LLC now owns 157,563 shares of the Wireless communications provider’s stock valued at $6,871,000 after acquiring an additional 154,585 shares during the period. 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.