VEON (NASDAQ:VEON) Shares Up 5.1% – Time to Buy?

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

Wall Street Analysts Forecast Growth

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

VEON Stock Down 0.0 %

The firm has a fifty day moving average of $39.17 and a two-hundred day moving average of $32.71. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.34.

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

Institutional Trading of VEON

A number of hedge funds and other institutional investors have recently made changes to their positions in VEON. Helikon Investments Ltd grew its holdings in VEON by 5.0% during 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of VEON in the third quarter valued at approximately $2,069,000. Samson Rock Capital LLP purchased a new position in VEON during the third quarter valued at approximately $913,000. Citigroup Inc. increased its holdings in VEON by 13.4% during the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock worth $7,567,000 after acquiring an additional 29,350 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in VEON in the 4th quarter worth approximately $119,000. 21.30% of the stock is currently owned by institutional investors.

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.