VEON (NASDAQ:VEON) Shares Up 5.2% - Should You Buy?

Shares of VEON Ltd. (NASDAQ:VEON - Get Free Report) were up 5.2% during mid-day trading on Monday . The company traded as high as $44.00 and last traded at $44.23. Approximately 17,974 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 54,589 shares. The stock had previously closed at $42.04.

Analysts Set New Price Targets

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

VEON Price Performance

The firm has a market capitalization of $3.40 billion, a P/E ratio of 6.14 and a beta of 1.47. The firm's 50 day simple moving average is $44.36 and its two-hundred day simple moving average is $36.96. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.81 and a quick ratio of 0.80.

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

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Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of VEON. Citigroup Inc. raised its stake in shares of VEON by 13.4% in the third quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider's stock worth $7,567,000 after buying an additional 29,350 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of VEON during the 3rd quarter worth approximately $2,069,000. JPMorgan Chase & Co. raised its stake in VEON by 41.5% during the third quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider's stock valued at $81,000 after purchasing an additional 776 shares in the last quarter. GAMMA Investing LLC purchased a new position in VEON in the fourth quarter worth about $119,000. Finally, Helikon Investments Ltd increased its position in shares of VEON by 5.0% during the 4th quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider's stock valued at $117,377,000 after purchasing an additional 138,149 shares during the last quarter. Hedge funds and other 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.