VEON (NASDAQ:VEON) Trading Up 5.1% – What’s Next?

Shares of VEON Ltd. (NASDAQ:VEON) traded up 5.1% during mid-day trading on Tuesday . The company traded as high as $44.50 and last traded at $45.07. 27,305 shares traded hands during trading, a decline of 81% from the average session volume of 145,969 shares. The stock had previously closed at $42.88.

Analysts Set New Price Targets

Separately, Benchmark began coverage on VEON in a research report on Tuesday, November 12th. They issued a “buy” rating and a $48.00 target price for the company.

VEON Price Performance

The firm’s 50-day moving average is $39.17 and its 200-day moving average is $32.71. 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 earnings results on Friday, December 13th. The Wireless communications provider reported $3.00 EPS for the quarter. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%.

Hedge Funds Weigh In On VEON

Several large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of VEON by 100.0% in the fourth 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 last quarter. JPMorgan Chase & Co. increased 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 buying an additional 776 shares during the last quarter. R Squared Ltd bought a new position in shares of VEON during the 4th quarter worth approximately $101,000. GAMMA Investing LLC purchased a new position in shares of VEON in the 4th quarter worth approximately $119,000. Finally, Samson Rock Capital LLP bought a new position in shares of VEON in the third quarter valued at approximately $913,000. 21.30% of the stock is currently owned by institutional investors.

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.