VEON Ltd. (NASDAQ:VEON) Short Interest Down 36.3% in August

Key Points

• VEON Ltd. experienced a significant reduction in short interest, decreasing by 36.3% in August, bringing the total to 214,400 shares as of the end of the month.
• The company reported strong quarterly earnings with $8.30 EPS, significantly exceeding analyst expectations of $0.95, and total revenue reaching $1.09 billion.
• Analysts have recently upgraded VEON's rating, with two firms issuing a "Strong Buy" recommendation and an average price target set at $60.00 per share.

VEON Ltd. (NASDAQ:VEON - Get Free Report) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totaling 214,400 shares, a drop of 36.3% from the August 15th total of 336,600 shares. Currently, 0.3% of the company's shares are short sold. Based on an average daily volume of 247,500 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily volume of 247,500 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.3% of the company's shares are short sold.

VEON Stock Up 0.2%

Shares of VEON stock opened at $53.72 on Monday. VEON has a 12 month low of $27.63 and a 12 month high of $64.00. The firm has a market cap of $3.97 billion, a PE ratio of 3.94 and a beta of 1.63. The stock has a 50 day moving average of $54.32 and a 200-day moving average of $48.44. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.57.

VEON (NASDAQ:VEON - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The Wireless communications provider reported $8.30 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $7.35. VEON had a return on equity of 72.76% and a net margin of 23.75%.The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.02 billion. VEON has set its FY 2025 guidance at EPS.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Osaic Holdings Inc. lifted its holdings in shares of VEON by 36.8% during the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider's stock worth $66,000 after buying an additional 388 shares during the last quarter. Samson Rock Capital LLP acquired a new position in shares of VEON during the second quarter worth approximately $138,000. GAMMA Investing LLC raised its stake in shares of VEON by 21.3% in the first 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 in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of VEON in the fourth quarter valued at $163,000. Finally, Jane Street Group LLC acquired a new position in shares of VEON in the fourth quarter valued at $236,000. 21.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VEON has been the topic of a number of analyst reports. Benchmark reissued a "buy" rating and issued a $60.00 price target on shares of VEON in a research note on Monday, June 16th. Zacks Research raised VEON from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Litchfield Hills Research raised VEON to a "strong-buy" rating in a research note on Thursday, June 26th. Finally, Wall Street Zen raised VEON from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat, VEON currently has an average rating of "Strong Buy" and an average price target of $60.00.

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.

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