VEON (NASDAQ:VEON) Trading Down 4.2% - Time to Sell?

VEON Ltd. (NASDAQ:VEON - Get Free Report)'s share price traded down 4.2% during trading on Tuesday . The stock traded as low as $46.63 and last traded at $46.31. 40,637 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 88,184 shares. The stock had previously closed at $48.34.

Analyst Ratings Changes

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

VEON Stock Performance

The firm has a fifty day simple moving average of $47.32 and a 200 day simple moving average of $43.82. 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 stock has a market cap of $2.83 billion, a price-to-earnings ratio of 6.03 and a beta of 1.51.

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

Hedge Funds Weigh In On VEON

A number of hedge funds have recently modified their holdings of VEON. Diameter Capital Partners LP acquired a new position in shares of VEON in the 4th quarter worth approximately $25,161,000. Lingotto Investment Management LLP raised its holdings in shares of VEON by 2.9% in the 4th quarter. Lingotto Investment Management LLP now owns 5,740,438 shares of the Wireless communications provider's stock worth $230,192,000 after buying an additional 159,714 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of VEON by 5,190.9% in the 1st 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 in the last quarter. Wellington Management Group LLP raised its holdings 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 worth $28,220,000 after buying an additional 117,945 shares in the last quarter. Finally, Cyrus Capital Partners L.P. acquired a new position in shares of VEON in the 4th quarter worth approximately $2,994,000. 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.