Short Interest in VEON Ltd. (NASDAQ:VEON) Declines By 13.4%

VEON Ltd. (NASDAQ:VEON - Get Free Report) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 50,600 shares, a drop of 13.4% from the February 13th total of 58,400 shares. Approximately 0.1% of the company's shares are sold short. Based on an average trading volume of 126,500 shares, the days-to-cover ratio is presently 0.4 days.

Analysts Set New Price Targets

Separately, Benchmark upped their target price on shares of VEON from $48.00 to $56.00 and gave the company a "buy" rating in a research note on Monday, March 3rd.

VEON Trading Up 2.0 %

VEON stock traded up $0.92 during midday trading on Friday, hitting $45.95. 71,736 shares of the company's stock were exchanged, compared to its average volume of 56,125. VEON has a one year low of $22.35 and a one year high of $48.39. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market cap of $3.40 billion, a PE ratio of 6.14 and a beta of 1.47. The stock's fifty day moving average price is $44.37 and its 200-day moving average price is $37.09.

VEON (NASDAQ:VEON - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The Wireless communications provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.06. VEON had a positive return on equity of 36.48% and a negative net margin of 81.71%. The business had revenue of $998.00 million for the quarter, compared to analysts' expectations of $1.01 billion.

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Institutional Investors Weigh In On VEON

Large investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its stake in VEON by 300.0% in the 4th quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider's stock worth $29,000 after purchasing an additional 540 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted 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 valued at $58,000 after purchasing an additional 720 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of VEON by 41.5% during the third quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider's stock worth $81,000 after buying an additional 776 shares in the last quarter. Geode Capital Management LLC raised its position in VEON by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 43,322 shares of the Wireless communications provider's stock valued at $1,737,000 after buying an additional 1,254 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in VEON in the 4th quarter valued at approximately $58,000. 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.