VEON (NASDAQ:VEON) Shares Down 3% - Should You Sell?

VEON Ltd. (NASDAQ:VEON - Get Free Report) shares were down 3% during mid-day trading on Tuesday . The stock traded as low as $52.11 and last traded at $52.44. Approximately 26,389 shares changed hands during trading, a decline of 70% from the average daily volume of 86,899 shares. The stock had previously closed at $54.05.

Wall Street Analyst Weigh In

Separately, Benchmark increased their price objective on shares of VEON from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, March 25th.

VEON Stock Up 3.3%

The company has a debt-to-equity ratio of 2.34, a current ratio of 0.81 and a quick ratio of 0.80. The firm has a market capitalization of $3.82 billion, a P/E ratio of 8.15 and a beta of 1.43. The company's 50-day simple moving average is $46.58 and its two-hundred day simple moving average is $43.14.

VEON (NASDAQ:VEON - Get Free Report) last announced its earnings results on Thursday, May 15th. The Wireless communications provider reported $1.36 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.53. VEON had a positive return on equity of 36.48% and a negative net margin of 81.71%. The company had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $996.00 million.

Institutional Investors Weigh In On VEON

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in shares of 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 purchasing an additional 540 shares during the period. SBI Securities Co. Ltd. bought a new stake in VEON during the fourth quarter valued at about $58,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in VEON by 100.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440 shares of the Wireless communications provider's stock valued at $58,000 after acquiring an additional 720 shares during the period. GAMMA Investing LLC raised its holdings in VEON by 21.3% during the first quarter. GAMMA Investing LLC now owns 3,613 shares of the Wireless communications provider's stock valued at $158,000 after acquiring an additional 635 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in VEON during the fourth quarter valued at about $163,000. Institutional investors own 21.30% of the company's stock.

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.