VEON Ltd. (NASDAQ:VEON) Short Interest Up 22.8% in January

VEON Ltd. (NASDAQ:VEON) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 70,600 shares, a growth of 22.8% from the December 31st total of 57,500 shares. Based on an average trading volume of 85,200 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.1% of the company’s shares are sold short.

Institutional Investors Weigh In On VEON

Several institutional investors and hedge funds have recently added to or reduced their stakes in VEON. Rhumbline Advisers increased its holdings in VEON by 300.0% during the fourth quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider’s stock worth $29,000 after buying an additional 540 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings 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. lifted its stake in 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 last quarter. R Squared Ltd bought a new position in VEON during the fourth quarter worth about $101,000. Finally, GAMMA Investing LLC bought a new position in VEON during the fourth quarter worth about $119,000. 21.30% of the stock is owned by institutional investors.

VEON Trading Up 3.9 %

NASDAQ VEON traded up $1.70 on Friday, reaching $45.05. The company had a trading volume of 77,373 shares, compared to its average volume of 132,480. The company’s fifty day moving average is $39.98 and its 200-day moving average is $33.00. VEON has a 1-year low of $19.00 and a 1-year high of $48.39. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.81 and a quick ratio of 0.80.

VEON (NASDAQ:VEON) last posted its quarterly earnings data on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share (EPS) for the quarter. VEON had a positive return on equity of 36.48% and a negative net margin of 81.71%.

Analysts Set New Price Targets

Separately, Benchmark started coverage on shares of VEON in a research note on Tuesday, November 12th. They issued a “buy” rating and a $48.00 target price on the 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.