VEON Ltd. (NASDAQ:VEON) Sees Large Increase in Short Interest

VEON Ltd. (NASDAQ:VEON) saw a significant growth in short interest during 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 daily volume of 85,200 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.1% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Benchmark initiated coverage on VEON in a research report on Tuesday, November 12th. They set a “buy” rating and a $48.00 price objective on the stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers lifted its position 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 purchasing an additional 540 shares during the period. Mirae Asset Global Investments Co. Ltd. raised 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 buying an additional 720 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of VEON by 41.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock worth $81,000 after acquiring an additional 776 shares during the period. R Squared Ltd acquired a new stake in shares of VEON during the 4th quarter worth approximately $101,000. Finally, GAMMA Investing LLC bought a new position in VEON in the fourth quarter valued at approximately $119,000. Institutional investors own 21.30% of the company’s stock.

VEON Stock Performance

Shares of NASDAQ:VEON traded up $1.70 on Friday, reaching $45.05. 77,373 shares of the company’s stock were exchanged, compared to its average volume of 132,480. VEON has a twelve month low of $19.00 and a twelve month high of $48.39. The company has a fifty day moving average of $39.98 and a 200-day moving average of $33.00. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.80 and a current ratio of 0.81.

VEON (NASDAQ:VEON) last issued 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 positive return on equity of 36.48% and a negative net margin of 81.71%.

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.