VEON Ltd. (NASDAQ:VEON) Sees Significant Increase in Short Interest

Key Points

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VEON Ltd. (NASDAQ:VEON - Get Free Report) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totaling 354,000 shares, anincreaseof56.9% from the July 15th total of 225,600 shares. Approximately0.5% of the shares of the stock are short sold. Based on an average daily volume of 260,900 shares, the days-to-cover ratio is presently 1.4 days. Based on an average daily 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen raised VEON from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 29th. Benchmark reaffirmed a "buy" rating and issued a $60.00 price target on shares of VEON in a research note on Monday, June 16th. Finally, Litchfield Hills Research raised VEON to a "strong-buy" rating in a research note on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat, VEON presently has an average rating of "Strong Buy" and an average target price of $60.00.

VEON Price Performance

NASDAQ VEON traded up $0.41 during trading on Friday, hitting $58.70. 126,077 shares of the company's stock were exchanged, compared to its average volume of 189,282. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 2.17. The company has a market cap of $4.34 billion, a PE ratio of 4.30 and a beta of 1.50. VEON has a fifty-two week low of $25.92 and a fifty-two week high of $64.00. The stock's 50 day moving average price is $49.70 and its two-hundred day moving average price is $47.10.

VEON (NASDAQ:VEON - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The Wireless communications provider reported $8.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $1.02 billion. VEON has set its FY 2025 guidance at EPS.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Caxton Associates LLP acquired a new position in shares of VEON in the second quarter valued at approximately $283,000. Tidal Investments LLC increased its stake in shares of VEON by 4.8% in the second quarter. Tidal Investments LLC now owns 7,288 shares of the Wireless communications provider's stock valued at $336,000 after buying an additional 336 shares during the period. Engineers Gate Manager LP acquired a new position in shares of VEON in the second quarter valued at approximately $243,000. BNP Paribas Financial Markets increased its stake in shares of VEON by 469.1% in the second quarter. BNP Paribas Financial Markets now owns 41,432 shares of the Wireless communications provider's stock valued at $1,909,000 after buying an additional 34,152 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of VEON by 1.0% in the second quarter. Bank of America Corp DE now owns 53,571 shares of the Wireless communications provider's stock valued at $2,468,000 after buying an additional 538 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.