Short Interest in VEON Ltd. (NASDAQ:VEON) Increases By 60.4%

VEON Ltd. (NASDAQ:VEON) was the recipient of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 150,000 shares, a growth of 60.4% from the May 15th total of 93,500 shares. Based on an average daily trading volume, of 168,700 shares, the short-interest ratio is presently 0.9 days. Currently, 0.2% of the shares of the stock are short sold.

VEON Price Performance

Shares of VEON traded up $0.98 during midday trading on Monday, reaching $39.25. The stock had a trading volume of 813,738 shares, compared to its average volume of 99,427. 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 has a market capitalization of $2.90 billion, a price-to-earnings ratio of 6.19 and a beta of 1.51. The company’s 50-day moving average is $47.32 and its 200 day moving average is $44.02. VEON has a 12-month low of $25.31 and a 12-month high of $58.30.

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

Wall Street Analyst Weigh In

Separately, Benchmark reaffirmed a “buy” rating and set a $60.00 price objective on shares of VEON in a report on Monday.

Institutional Trading of VEON

Hedge funds have recently added to or reduced their stakes in the business. Lingotto Investment Management LLP increased its holdings in shares of VEON by 2.9% in the fourth 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. Wellington Management Group LLP lifted its position in VEON by 22.3% in the first quarter. Wellington Management Group LLP now owns 647,096 shares of the Wireless communications provider’s stock valued at $28,220,000 after purchasing an additional 117,945 shares during the last quarter. Diameter Capital Partners LP purchased a new stake in shares of VEON during the fourth quarter valued at approximately $25,161,000. GAMMA Investing LLC boosted its stake in shares of VEON by 5,190.9% during the first quarter. GAMMA Investing LLC now owns 157,563 shares of the Wireless communications provider’s stock valued at $6,871,000 after purchasing an additional 154,585 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of VEON by 2.2% in the fourth quarter. Russell Investments Group Ltd. now owns 117,808 shares of the Wireless communications provider’s stock worth $4,724,000 after purchasing an additional 2,512 shares during the last quarter. 21.30% of the stock is owned by 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.