VEON Ltd. (NASDAQ:VEON) Short Interest Down 16.0% in November

VEON Ltd. (NASDAQ:VEON) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 56,500 shares, a drop of 16.0% from the November 15th total of 67,300 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 37,900 shares, the short-interest ratio is currently 1.5 days.

VEON Stock Down 1.7 %

VEON stock opened at $36.47 on Friday. VEON has a 1-year low of $18.50 and a 1-year high of $38.00. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 2.66. The business’s 50 day moving average is $32.30 and its 200-day moving average is $29.07.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of VEON. Samson Rock Capital LLP acquired a new stake in shares of VEON during the 3rd quarter worth about $913,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of VEON in the 3rd quarter worth approximately $2,069,000. Citigroup Inc. boosted its holdings in shares of VEON by 13.4% in 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 in the last quarter. Helikon Investments Ltd grew its position in VEON by 8.1% during the 2nd quarter. Helikon Investments Ltd now owns 2,739,275 shares of the Wireless communications provider’s stock worth $71,057,000 after acquiring an additional 206,200 shares during the last quarter. Finally, Lingotto Investment Management LLP raised its position in VEON by 1.0% in the 2nd quarter. Lingotto Investment Management LLP now owns 5,387,582 shares of the Wireless communications provider’s stock valued at $139,754,000 after purchasing an additional 53,807 shares during the last quarter. 21.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Benchmark assumed coverage on VEON in a research report on Tuesday, November 12th. They set 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.