VEON (NASDAQ:VEON) Shares Gap Up – Should You Buy?

VEON Ltd. (NASDAQ:VEON) gapped up before the market opened on Thursday . The stock had previously closed at $40.51, but opened at $41.60. VEON shares last traded at $41.01, with a volume of 9,453 shares changing hands.

Analyst Ratings Changes

Separately, Benchmark boosted their target price on shares of VEON from $48.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, March 3rd.

VEON Price Performance

The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.34. The firm has a market cap of $2.95 billion, a PE ratio of 5.33 and a beta of 1.47. The firm’s fifty day simple moving average is $44.43 and its two-hundred day simple moving average is $36.31.

VEON (NASDAQ:VEON) last issued its quarterly earnings results 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%.

Hedge Funds Weigh In On VEON

Several hedge funds have recently modified their holdings of the stock. Rhumbline Advisers grew its holdings in shares of VEON by 300.0% in the fourth quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider’s stock worth $29,000 after purchasing an additional 540 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of VEON by 100.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440 shares of the Wireless communications provider’s stock valued at $58,000 after acquiring an additional 720 shares during the last quarter. JPMorgan Chase & Co. boosted its position 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 valued at $81,000 after acquiring an additional 776 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of VEON by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 43,322 shares of the Wireless communications provider’s stock valued at $1,737,000 after acquiring an additional 1,254 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of VEON during the 4th quarter valued at about $58,000. 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.