VEON (NASDAQ:VEON) Trading Down 4.2% – Time to Sell?

VEON Ltd. (NASDAQ:VEON) dropped 4.2% during mid-day trading on Tuesday . The stock traded as low as $46.63 and last traded at $46.31. Approximately 40,637 shares changed hands during trading, a decline of 54% from the average daily volume of 88,184 shares. The stock had previously closed at $48.34.

Wall Street Analyst Weigh In

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

VEON Price Performance

The business has a fifty day moving average of $46.93 and a 200 day moving average of $43.69. The firm has a market cap of $3.45 billion, a P/E ratio of 7.35 and a beta of 1.51. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.34.

VEON (NASDAQ:VEON) last released its quarterly earnings data on Thursday, May 15th. The Wireless communications provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.53. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $996.00 million. VEON had a positive return on equity of 36.48% and a negative net margin of 81.71%.

Institutional Trading of VEON

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers grew its stake in shares of VEON by 300.0% in the fourth quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider’s stock valued at $29,000 after acquiring an additional 540 shares in the last quarter. GAMMA Investing LLC raised its stake in VEON by 21.3% in the 1st quarter. GAMMA Investing LLC now owns 3,613 shares of the Wireless communications provider’s stock worth $158,000 after purchasing an additional 635 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in VEON by 100.0% in 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 purchasing an additional 720 shares during the period. Geode Capital Management LLC grew 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 worth $1,737,000 after purchasing an additional 1,254 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of VEON during the 4th quarter worth approximately $58,000. 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.