VEON (NASDAQ:VEON) Shares Down 4.7% – What’s Next?

VEON Ltd. (NASDAQ:VEON)’s share price fell 4.7% during mid-day trading on Thursday . The stock traded as low as $42.89 and last traded at $42.98. 62,483 shares traded hands during trading, a decline of 56% from the average session volume of 142,525 shares. The stock had previously closed at $45.10.

Analyst Upgrades and Downgrades

Separately, Benchmark started coverage on VEON in a research note on Tuesday, November 12th. They issued a “buy” rating and a $48.00 price target on the stock.

VEON Price Performance

The firm has a 50-day moving average of $39.46 and a 200-day moving average of $32.79. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.80 and a current ratio of 0.81.

VEON (NASDAQ:VEON) last issued its quarterly earnings data on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share for the quarter. VEON had a positive return on equity of 36.48% and a negative net margin of 81.71%.

Hedge Funds Weigh In On VEON

A number of hedge funds have recently bought and sold shares of the business. Rhumbline Advisers raised its stake in VEON by 300.0% in the 4th quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider’s stock valued at $29,000 after purchasing an additional 540 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in 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 purchasing an additional 720 shares during the period. JPMorgan Chase & Co. grew its stake in shares of VEON by 41.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock valued at $81,000 after buying an additional 776 shares in the last quarter. R Squared Ltd bought a new position in shares of VEON in the fourth quarter worth about $101,000. Finally, GAMMA Investing LLC acquired a new stake in shares of VEON during the fourth quarter worth approximately $119,000. Hedge funds and other institutional investors own 21.30% of the company’s stock.

About VEON

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.