VEON (NASDAQ:VEON) Shares Up 8.1% - Still a Buy?

VEON Ltd. (NASDAQ:VEON - Get Free Report) shares were up 8.1% during mid-day trading on Tuesday . The stock traded as high as $43.22 and last traded at $42.15. Approximately 113,282 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 177,012 shares. The stock had previously closed at $39.00.

Wall Street Analyst Weigh In

Several analysts recently commented on VEON shares. Wall Street Zen downgraded shares of VEON from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Benchmark reissued a "buy" rating and set a $60.00 price target on shares of VEON in a research report on Monday, June 16th.

VEON Stock Performance

The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The stock has a market capitalization of $3.06 billion, a P/E ratio of 6.52 and a beta of 1.51. The business has a fifty day moving average price of $47.34 and a 200-day moving average price of $44.25.

VEON (NASDAQ:VEON - Get Free Report) last posted its earnings results on Thursday, May 15th. The Wireless communications provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.53. The business had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $996.00 million. VEON had a net margin of 11.18% and a return on equity of 36.24%.

Institutional Trading of VEON

Several large investors have recently modified their holdings of VEON. SBI Securities Co. Ltd. purchased a new position in VEON in the fourth quarter worth about $58,000. GAMMA Investing LLC boosted its holdings in shares of VEON by 5,190.9% in the first quarter. GAMMA Investing LLC now owns 157,563 shares of the Wireless communications provider's stock worth $6,871,000 after buying an additional 154,585 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in VEON during the fourth quarter valued at approximately $163,000. Cyrus Capital Partners L.P. purchased a new stake in VEON during the fourth quarter valued at approximately $2,994,000. Finally, Bank of America Corp DE raised its position in VEON by 33.6% in the fourth quarter. Bank of America Corp DE now owns 26,468 shares of the Wireless communications provider's stock worth $1,061,000 after acquiring an additional 6,659 shares during the period. 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.