VEON (NASDAQ:VEON) Trading 8.1% Higher - Time to Buy?

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

Analyst Ratings Changes

Several research firms have recently issued reports on VEON. Benchmark reiterated a "buy" rating and set a $60.00 price objective on shares of VEON in a research report on Monday, June 16th. Litchfield Hills Research upgraded shares of VEON to a "strong-buy" rating in a report on Thursday. Finally, Wall Street Zen downgraded shares of VEON from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st.

VEON Price Performance

The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a fifty day simple moving average of $47.33 and a two-hundred day simple moving average of $44.27. The firm has a market cap of $3.28 billion, a PE ratio of 6.99 and a beta of 1.51.

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

Institutional Trading of VEON

Large investors have recently made changes to their positions in the business. Diameter Capital Partners LP bought a new position in shares of VEON in the 4th quarter valued at about $25,161,000. GAMMA Investing LLC raised its position in VEON by 5,190.9% during the first quarter. GAMMA Investing LLC now owns 157,563 shares of the Wireless communications provider's stock valued at $6,871,000 after purchasing an additional 154,585 shares during the period. Wellington Management Group LLP lifted its stake in shares of VEON by 22.3% in 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 purchasing an additional 117,945 shares during the last quarter. Cyrus Capital Partners L.P. bought a new stake in shares of VEON in the 4th quarter valued at approximately $2,994,000. Finally, J. Goldman & Co LP purchased a new position in shares of VEON in the 4th quarter worth approximately $2,084,000. 21.30% of the stock is currently owned by institutional investors.

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.