VEON (NASDAQ:VEON) Trading 3.1% Higher - Here's What Happened

VEON Ltd. (NASDAQ:VEON - Get Free Report) shot up 3.1% during trading on Thursday . The stock traded as high as $46.61 and last traded at $46.25. 16,762 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 89,448 shares. The stock had previously closed at $44.84.

Analysts Set New Price Targets

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

VEON Trading Down 18.6%

The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 2.34. The company has a market cap of $2.83 billion, a PE ratio of 6.03 and a beta of 1.51. The stock has a 50 day moving average price of $47.32 and a 200 day moving average price of $43.94.

VEON (NASDAQ:VEON - Get Free Report) last posted its quarterly 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 positive return on equity of 36.48% and a negative net margin of 81.71%.

Hedge Funds Weigh In On VEON

A number of hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its holdings 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 last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of VEON by 100.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440 shares of the Wireless communications provider's stock worth $58,000 after purchasing an additional 720 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of VEON in the fourth quarter worth about $58,000. GAMMA Investing LLC boosted its stake 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 buying an additional 635 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in VEON during the 4th quarter valued at approximately $163,000. 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.