Short Interest in VEON Ltd. (NASDAQ:VEON) Increases By 60.4%

VEON Ltd. (NASDAQ:VEON - Get Free Report) was the target of a significant growth in short interest in May. As of May 31st, there was short interest totalling 150,000 shares, a growth of 60.4% from the May 15th total of 93,500 shares. Based on an average daily trading volume, of 168,700 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.2% of the shares of the stock are sold short.

VEON Stock Performance

Shares of NASDAQ:VEON traded up $0.03 during midday trading on Wednesday, hitting $40.05. The stock had a trading volume of 185,679 shares, compared to its average volume of 102,089. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 2.17. The stock has a 50 day moving average price of $47.36 and a two-hundred day moving average price of $44.04. VEON has a 1 year low of $25.31 and a 1 year high of $58.30. The company has a market capitalization of $2.96 billion, a PE ratio of 6.32 and a beta of 1.51.

VEON (NASDAQ:VEON - Get Free Report) last released its earnings results on Thursday, May 15th. The Wireless communications provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.53. VEON had a net margin of 11.18% and a return on equity of 36.24%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $996.00 million.

Wall Street Analyst Weigh In

Separately, Benchmark reaffirmed a "buy" rating and issued a $60.00 price target on shares of VEON in a research note on Monday.

Institutional Trading of VEON

Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers increased its stake in VEON by 300.0% during 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. Mirae Asset Global Investments Co. Ltd. raised its stake in VEON by 100.0% during 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 purchasing an additional 720 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of VEON during the fourth quarter valued at $58,000. GAMMA Investing LLC increased its holdings in shares of VEON by 21.3% in the 1st quarter. GAMMA Investing LLC now owns 3,613 shares of the Wireless communications provider's stock valued at $158,000 after purchasing an additional 635 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in VEON in the 4th quarter worth approximately $163,000. 21.30% of the stock is owned by hedge funds and other institutional investors.

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.