VEON (NASDAQ:VEON) Stock Price Up 5.2% – Here’s Why

VEON Ltd. (NASDAQ:VEON) shares rose 5.2% during trading on Monday . The stock traded as high as $44.00 and last traded at $44.23. Approximately 17,974 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 54,589 shares. The stock had previously closed at $42.04.

Wall Street Analysts Forecast Growth

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

VEON Stock Up 2.7 %

The firm has a fifty day moving average price of $44.32 and a 200 day moving average price of $36.84. 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 firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 6.15 and a beta of 1.47.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. VR Advisory Services Ltd acquired a new position in VEON during the 4th quarter worth $1,712,000. Tidal Investments LLC acquired a new position in VEON during the 4th quarter worth $484,000. J. Goldman & Co LP acquired a new position in VEON during the 4th quarter worth $2,084,000. Diameter Capital Partners LP acquired a new position in VEON during the 4th quarter worth $25,161,000. Finally, Cubist Systematic Strategies LLC acquired a new position in VEON during the 4th quarter worth $245,000. 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.