VEON (NASDAQ:VEON) Shares Down 11.2% – What’s Next?

VEON Ltd. (NASDAQ:VEON)’s stock price fell 11.2% during trading on Monday . The stock traded as low as $40.05 and last traded at $39.87. 169,062 shares traded hands during trading, an increase of 222% from the average session volume of 52,545 shares. The stock had previously closed at $44.91.

Wall Street Analysts Forecast Growth

Separately, Benchmark raised their price objective on VEON from $48.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, March 3rd.

VEON Stock Performance

The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 2.34. The stock’s 50 day moving average is $44.42 and its 200 day moving average is $36.28. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 5.42 and a beta of 1.47.

VEON (NASDAQ:VEON) last issued its quarterly earnings data on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share for the quarter. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%.

Institutional Trading of VEON

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lingotto Investment Management LLP grew its holdings in shares of 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 worth $230,192,000 after buying an additional 159,714 shares in the last quarter. Helikon Investments Ltd raised its holdings in VEON by 5.0% in 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 acquiring an additional 138,149 shares during the last quarter. Diameter Capital Partners LP purchased a new position in shares of VEON during the 4th quarter worth $25,161,000. Citigroup Inc. boosted its holdings in shares of VEON by 13.4% during the third quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock worth $7,567,000 after purchasing an additional 29,350 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of VEON by 2.2% in the fourth quarter. Russell Investments Group Ltd. now owns 117,808 shares of the Wireless communications provider’s stock valued at $4,724,000 after purchasing an additional 2,512 shares during the period. 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.