VEON (NASDAQ:VEON) Shares Gap Up – What’s Next?

VEON Ltd. (NASDAQ:VEON)’s share price gapped up prior to trading on Monday . The stock had previously closed at $42.63, but opened at $45.10. VEON shares last traded at $47.22, with a volume of 103,742 shares trading hands.

Analyst Ratings Changes

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

VEON Price Performance

The company has a debt-to-equity ratio of 2.34, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 7.99 and a beta of 1.39. The company has a 50-day simple moving average of $43.20 and a two-hundred day simple moving average of $39.60.

VEON (NASDAQ:VEON) last issued its quarterly earnings results on Thursday, March 20th. The Wireless communications provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $998.00 million for the quarter, compared to analyst estimates of $1.01 billion.

Institutional Trading of VEON

Several large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its stake in VEON by 300.0% during the 4th quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider’s stock valued at $29,000 after acquiring an additional 540 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in VEON during the fourth quarter worth $58,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in VEON by 100.0% during 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 buying an additional 720 shares in the last quarter. R Squared Ltd acquired a new stake in shares of VEON in the fourth quarter worth about $101,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of VEON by 41.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock worth $81,000 after acquiring an additional 776 shares in the last quarter. 21.30% of the stock is owned by institutional investors and hedge funds.

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.