VEON (NASDAQ:VEON) Shares Up 6.5% - What's Next?

VEON Ltd. (NASDAQ:VEON - Get Free Report)'s stock price was up 6.5% during trading on Thursday . The company traded as high as $55.38 and last traded at $55.81. Approximately 157,216 shares were traded during mid-day trading, a decline of 15% from the average daily volume of 184,246 shares. The stock had previously closed at $52.40.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on VEON shares. Benchmark reissued a "buy" rating and issued a $60.00 price objective on shares of VEON in a research note on Monday, June 16th. Litchfield Hills Research raised shares of VEON to a "strong-buy" rating in a research note on Thursday, June 26th. Finally, Wall Street Zen raised shares of VEON from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 29th.

VEON Stock Up 6.4%

The company's fifty day moving average price is $48.15 and its 200-day moving average price is $45.54. The stock has a market cap of $4.12 billion, a P/E ratio of 8.79 and a beta of 1.44. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.80 and a current ratio of 0.81.

VEON (NASDAQ:VEON - Get Free Report) last released 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. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $996.00 million. VEON had a net margin of 11.18% and a return on equity of 36.24%.

Institutional Investors Weigh In On VEON

Institutional investors have recently made changes to their positions in the company. Diameter Capital Partners LP bought a new stake in VEON during the 4th quarter valued at about $25,161,000. GAMMA Investing LLC lifted its holdings in VEON by 5,190.9% during the 1st quarter. GAMMA Investing LLC now owns 157,563 shares of the Wireless communications provider's stock valued at $6,871,000 after buying an additional 154,585 shares in the last quarter. Wellington Management Group LLP lifted its holdings in VEON by 22.3% during the 1st quarter. Wellington Management Group LLP now owns 647,096 shares of the Wireless communications provider's stock valued at $28,220,000 after buying an additional 117,945 shares in the last quarter. Cyrus Capital Partners L.P. bought a new stake in VEON during the 4th quarter valued at about $2,994,000. Finally, J. Goldman & Co LP bought a new stake in VEON during the 4th quarter valued at about $2,084,000. 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.

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