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

Shares of VEON Ltd. (NASDAQ:VEON) gapped up prior to trading on Thursday . The stock had previously closed at $46.04, but opened at $47.49. VEON shares last traded at $47.22, with a volume of 42,740 shares.

Analysts Set New Price Targets

Separately, Benchmark initiated coverage on shares of VEON in a report on Tuesday, November 12th. They issued a “buy” rating and a $48.00 price target on the stock.

VEON Stock Up 1.7 %

The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 2.66. The stock has a fifty day moving average price of $37.00 and a 200-day moving average price of $31.46.

VEON (NASDAQ:VEON) last issued its earnings results on Friday, December 13th. The Wireless communications provider reported $3.00 EPS for the quarter. VEON had a negative net margin of 81.71% and a positive return on equity of 38.43%.

Institutional Trading of VEON

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in 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 during the last quarter. GAMMA Investing LLC bought a new stake in shares of VEON during the fourth quarter worth $119,000. Samson Rock Capital LLP acquired a new stake in shares of VEON in the third quarter valued at $913,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of VEON in the third quarter valued at about $2,069,000. Finally, Citigroup Inc. lifted its position in VEON by 13.4% during the 3rd 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 in the last quarter. Institutional investors and hedge funds 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.