VEON (NASDAQ:VEON) Stock Price Up 7.2% – Still a Buy?

VEON Ltd. (NASDAQ:VEON) shares traded up 7.2% during mid-day trading on Thursday . The stock traded as high as $43.07 and last traded at $43.00. 33,292 shares changed hands during trading, a decline of 10% from the average session volume of 36,856 shares. The stock had previously closed at $40.10.

Wall Street Analysts Forecast Growth

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

VEON Price Performance

The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.76 and a current ratio of 0.77. The business has a fifty day moving average of $34.30 and a 200-day moving average of $30.14. The firm has a market capitalization of $3.12 billion, a P/E ratio of 6.65 and a beta of 1.55.

VEON (NASDAQ:VEON) last announced its 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 77.48% and a positive return on equity of 28.73%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VEON. JPMorgan Chase & Co. grew its stake in shares of VEON by 41.5% in 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 last quarter. Samson Rock Capital LLP acquired a new position in VEON in the third quarter worth approximately $913,000. 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 $2,069,000. Citigroup Inc. lifted its position in shares of VEON by 13.4% during the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock valued at $7,567,000 after acquiring an additional 29,350 shares during the last quarter. Finally, Helikon Investments Ltd lifted its position in shares of VEON by 1.8% during the 3rd quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock valued at $84,840,000 after acquiring an additional 49,680 shares during the last quarter. Institutional investors own 21.30% of the company’s 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.