VEON (NASDAQ:VEON) Shares Up 3.1% - Here's Why

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

Wall Street Analysts Forecast Growth

Separately, Benchmark upped their target price on VEON from $56.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, March 25th.

VEON Stock Down 18.6%

The stock has a 50 day moving average price of $47.32 and a 200 day moving average price of $43.82. The company has a market cap of $2.83 billion, a P/E ratio of 6.03 and a beta of 1.51. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.80 and a current ratio of 0.81.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its stake 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 buying an additional 540 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in VEON by 100.0% in the 4th 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. bought a new position in VEON during the fourth quarter valued at about $58,000. GAMMA Investing LLC lifted its position in 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 purchasing an additional 635 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in shares of VEON during the 4th quarter valued at about $163,000. 21.30% of the stock is owned by institutional investors and hedge funds.

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.