VEON Ltd. (NASDAQ:VEON) Sees Large Growth in Short Interest

VEON Ltd. (NASDAQ:VEON) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 75,600 shares, an increase of 40.5% from the March 15th total of 53,800 shares. Based on an average daily volume of 135,500 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VEON. Diameter Capital Partners LP bought a new position in shares of VEON during the 4th quarter valued at about $25,161,000. Lingotto Investment Management LLP grew its position in VEON by 2.9% during the fourth quarter. Lingotto Investment Management LLP now owns 5,740,438 shares of the Wireless communications provider’s stock valued at $230,192,000 after acquiring an additional 159,714 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of VEON by 5,190.9% during the first quarter. GAMMA Investing LLC now owns 157,563 shares of the Wireless communications provider’s stock worth $6,871,000 after acquiring an additional 154,585 shares in the last quarter. Helikon Investments Ltd lifted its holdings in shares of VEON by 5.0% in the 4th quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock worth $117,377,000 after acquiring an additional 138,149 shares during the last quarter. Finally, Cyrus Capital Partners L.P. bought a new position in shares of VEON during the 4th quarter valued at $2,994,000. Institutional investors own 21.30% of the company’s stock.

Analysts Set New Price Targets

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

VEON Trading Up 4.4 %

VEON stock opened at $44.32 on Friday. The stock has a market cap of $3.28 billion, a P/E ratio of 7.73 and a beta of 1.39. VEON has a fifty-two week low of $22.94 and a fifty-two week high of $48.39. The firm’s fifty day moving average price is $43.39 and its 200-day moving average price is $39.05. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.80 and a current ratio of 0.81.

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

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.