VEON (NASDAQ:VEON) Shares Gap Up – Still a Buy?

VEON Ltd. (NASDAQ:VEON)’s stock price gapped up before the market opened 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 traded.

Analyst Ratings Changes

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

VEON Price 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 company’s 50 day moving average price is $43.20 and its 200 day moving average price is $39.60. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 7.99 and a beta of 1.39.

VEON (NASDAQ:VEON) last announced its earnings results on Thursday, March 20th. The Wireless communications provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%. The firm had revenue of $998.00 million for the quarter, compared to analyst estimates of $1.01 billion.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of VEON. Lingotto Investment Management LLP raised its position in shares of VEON by 2.9% in the 4th 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 during the period. Helikon Investments Ltd lifted its position in VEON by 5.0% during the 4th quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock worth $117,377,000 after acquiring an additional 138,149 shares in the last quarter. Diameter Capital Partners LP purchased a new position in shares of VEON in the fourth quarter valued at $25,161,000. GAMMA Investing LLC lifted its stake in shares of VEON by 5,190.9% in the first quarter. GAMMA Investing LLC now owns 157,563 shares of the Wireless communications provider’s stock worth $6,871,000 after acquiring an additional 154,585 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in VEON by 2.2% during the 4th 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 in the last quarter. 21.30% of the stock is currently owned by hedge funds and other institutional investors.

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.