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

VEON Ltd. (NASDAQ:VEON - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $47.00, but opened at $38.78. VEON shares last traded at $39.93, with a volume of 861,286 shares traded.

Wall Street Analyst Weigh In

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

VEON Stock Up 4.6%

The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a market cap of $2.96 billion, a PE ratio of 6.31 and a beta of 1.51. The company's 50-day simple moving average is $47.32 and its two-hundred day simple moving average is $44.02.

VEON (NASDAQ:VEON - Get Free Report) last announced its earnings results on Thursday, May 15th. The Wireless communications provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $996.00 million.

Institutional Trading of VEON

Hedge funds have recently modified their holdings of the business. Rhumbline Advisers grew its position 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 purchasing an additional 540 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in VEON during the 4th quarter worth approximately $58,000. GAMMA Investing LLC boosted 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 worth $158,000 after acquiring an additional 635 shares during the period. BNP Paribas Financial Markets purchased a new position in VEON during the fourth quarter valued at $163,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of VEON by 120.8% during the 4th quarter. JPMorgan Chase & Co. now owns 5,848 shares of the Wireless communications provider's stock worth $235,000 after acquiring an additional 3,200 shares in the last quarter. Institutional investors 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.