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

VEON Ltd. (NASDAQ:VEON)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $46.04, but opened at $47.49. VEON shares last traded at $47.22, with a volume of 42,740 shares changing hands.

Analyst Upgrades and Downgrades

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

VEON Trading Up 0.2 %

The company has a debt-to-equity ratio of 2.66, a current ratio of 0.77 and a quick ratio of 0.76. The business has a 50-day simple moving average of $37.51 and a two-hundred day simple moving average of $31.70. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 5.20 and a beta of 1.51.

VEON (NASDAQ:VEON) last posted its earnings results on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share for the quarter. VEON had a positive return on equity of 38.43% and a negative net margin of 81.71%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of VEON. JPMorgan Chase & Co. grew its position in shares of VEON by 41.5% in the third quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock valued at $81,000 after purchasing an additional 776 shares during the last quarter. GAMMA Investing LLC acquired a new position in VEON in the 4th quarter valued at $119,000. Samson Rock Capital LLP bought a new position in VEON during the 3rd quarter worth $913,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of VEON during the third quarter worth $2,069,000. Finally, Citigroup Inc. boosted its position in shares of VEON by 13.4% in the third 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 period. Institutional investors and hedge funds 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.