VEON (NASDAQ:VEON) Trading Down 11.2% – What’s Next?

VEON Ltd. (NASDAQ:VEON)’s stock price fell 11.2% on Monday . The stock traded as low as $40.05 and last traded at $39.87. Approximately 169,062 shares changed hands during trading, an increase of 222% from the average session volume of 52,545 shares. The stock had previously closed at $44.91.

Analyst Upgrades and Downgrades

Separately, Benchmark lifted their price objective on shares of VEON from $48.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd.

VEON Price Performance

The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 2.34. The company has a market capitalization of $2.96 billion, a PE ratio of 5.35 and a beta of 1.47. The stock’s 50-day moving average is $44.44 and its two-hundred day moving average is $36.11.

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%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers boosted its position in VEON by 300.0% in the 4th quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider’s stock valued at $29,000 after buying an additional 540 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of VEON during the fourth quarter valued at approximately $58,000. Mirae Asset Global Investments Co. Ltd. boosted 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 period. R Squared Ltd bought a new position in VEON in the fourth quarter worth approximately $101,000. Finally, JPMorgan Chase & Co. increased its holdings in 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 purchasing an additional 776 shares during the period. 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.