VEON (NASDAQ:VEON) Trading 4.8% Higher – Time to Buy?

VEON Ltd. (NASDAQ:VEON) shares traded up 4.8% during mid-day trading on Monday . The stock traded as high as $31.25 and last traded at $30.93. 26,414 shares were traded during mid-day trading, a decline of 14% from the average session volume of 30,620 shares. The stock had previously closed at $29.50.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of VEON from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 5th.

VEON Price Performance

The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.76 and a current ratio of 0.77. The business has a 50-day moving average price of $28.80 and a 200 day moving average price of $26.74.

VEON (NASDAQ:VEON) last announced its earnings results on Friday, August 30th. The Wireless communications provider reported $1.00 earnings per share (EPS) for the quarter. The company had revenue of $1.03 billion for the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Samson Rock Capital LLP acquired a new stake in shares of VEON during the third quarter valued at approximately $913,000. Lingotto Investment Management LLP boosted its position in VEON by 1.0% during the 2nd quarter. Lingotto Investment Management LLP now owns 5,387,582 shares of the Wireless communications provider’s stock worth $139,754,000 after acquiring an additional 53,807 shares during the period. Helikon Investments Ltd boosted its position in VEON by 8.1% during the 2nd quarter. Helikon Investments Ltd now owns 2,739,275 shares of the Wireless communications provider’s stock worth $71,057,000 after acquiring an additional 206,200 shares during the period. Gabelli Funds LLC grew its stake in VEON by 18.8% during the 1st quarter. Gabelli Funds LLC now owns 129,496 shares of the Wireless communications provider’s stock valued at $3,109,000 after acquiring an additional 20,456 shares in the last quarter. Finally, Gamco Investors INC. ET AL acquired a new position in shares of VEON in the 1st quarter valued at about $376,000. 21.30% of the stock is currently 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.