VEON (NASDAQ:VEON) Stock Price Up 7.2% - Still a Buy?

VEON Ltd. (NASDAQ:VEON - Get Free Report)'s share price rose 7.2% during mid-day trading on Thursday . The stock traded as high as $43.07 and last traded at $43.00. Approximately 33,292 shares traded hands during trading, a decline of 10% from the average daily volume of 36,856 shares. The stock had previously closed at $40.10.

Analysts Set New Price Targets

Separately, Benchmark began coverage on VEON in a research note on Tuesday, November 12th. They set a "buy" rating and a $48.00 price objective on the stock.

VEON Trading Up 6.5 %

The company has a debt-to-equity ratio of 2.66, a current ratio of 0.77 and a quick ratio of 0.76. The firm has a market capitalization of $3.16 billion, a PE ratio of 6.72 and a beta of 1.55. The firm's fifty day moving average is $34.53 and its two-hundred day moving average is $30.22.

VEON (NASDAQ:VEON - Get Free Report) last released its earnings results on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share (EPS) for the quarter. VEON had a positive return on equity of 28.73% and a negative net margin of 77.48%.

Institutional Trading of VEON

Hedge funds have recently added to or reduced their stakes in the stock. Lingotto Investment Management LLP increased its position in VEON by 1.0% in the second quarter. Lingotto Investment Management LLP now owns 5,387,582 shares of the Wireless communications provider's stock worth $139,754,000 after buying an additional 53,807 shares during the last quarter. Samson Rock Capital LLP bought a new position in shares of VEON during the 3rd quarter worth $913,000. Helikon Investments Ltd increased its holdings in VEON by 1.8% in the 3rd quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider's stock worth $84,840,000 after acquiring an additional 49,680 shares during the last quarter. Citigroup Inc. raised its stake in VEON by 13.4% in the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider's stock valued at $7,567,000 after acquiring an additional 29,350 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in VEON during the third quarter valued at about $2,069,000. 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.