VEON Ltd. (NASDAQ:VEON) Short Interest Up 56.9% in July

Key Points

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VEON Ltd. (NASDAQ:VEON - Get Free Report) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totaling 354,000 shares, agrowthof56.9% from the July 15th total of 225,600 shares. Based on an average trading volume of 260,900 shares, the days-to-cover ratio is presently 1.4 days. Approximately0.5% of the shares of the stock are short sold. Approximately0.5% of the shares of the stock are short sold. Based on an average trading volume of 260,900 shares, the days-to-cover ratio is presently 1.4 days.

Hedge Funds Weigh In On VEON

Several hedge funds have recently added to or reduced their stakes in the company. Lingotto Investment Management LLP boosted its holdings in VEON by 1.2% in the second quarter. Lingotto Investment Management LLP now owns 5,957,666 shares of the Wireless communications provider's stock valued at $274,470,000 after acquiring an additional 70,659 shares during the last quarter. Wellington Management Group LLP boosted its holdings in VEON by 22.3% in the first quarter. Wellington Management Group LLP now owns 647,096 shares of the Wireless communications provider's stock valued at $28,220,000 after acquiring an additional 117,945 shares during the last quarter. Diameter Capital Partners LP bought a new position in VEON in the fourth quarter valued at about $25,161,000. GAMMA Investing LLC boosted its holdings in VEON by 5,190.9% in the first quarter. GAMMA Investing LLC now owns 157,563 shares of the Wireless communications provider's stock valued at $6,871,000 after acquiring an additional 154,585 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in VEON by 8.9% in the second quarter. Russell Investments Group Ltd. now owns 122,113 shares of the Wireless communications provider's stock valued at $5,626,000 after acquiring an additional 9,954 shares during the last quarter. Institutional investors own 21.30% of the company's stock.

Analyst Upgrades and Downgrades

VEON has been the subject of several recent analyst reports. Benchmark reiterated a "buy" rating and set a $60.00 price objective on shares of VEON in a research note on Monday, June 16th. Litchfield Hills Research upgraded VEON to a "strong-buy" rating in a research note on Thursday, June 26th. Finally, Wall Street Zen upgraded VEON from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Strong Buy" and an average target price of $60.00.

VEON Price Performance

Shares of NASDAQ:VEON traded up $0.41 during midday trading on Friday, reaching $58.70. The company's stock had a trading volume of 126,077 shares, compared to its average volume of 222,505. VEON has a fifty-two week low of $25.92 and a fifty-two week high of $64.00. The company has a market capitalization of $4.34 billion, a P/E ratio of 4.30 and a beta of 1.50. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.80. The business's fifty day simple moving average is $50.10 and its 200-day simple moving average is $47.26.

VEON (NASDAQ:VEON - Get Free Report) last announced its earnings results on Thursday, August 7th. The Wireless communications provider reported $8.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $7.35. VEON had a return on equity of 75.40% 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.

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.