VEON Ltd. (NASDAQ:VEON) Sees Large Increase in Short Interest

VEON Ltd. (NASDAQ:VEON) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 70,600 shares, an increase of 22.8% from the December 31st total of 57,500 shares. Based on an average daily volume of 85,200 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Samson Rock Capital LLP acquired a new position in shares of VEON in the third quarter valued at $913,000. Helikon Investments Ltd grew its stake in VEON by 1.8% in the 3rd quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock valued at $84,840,000 after buying an additional 49,680 shares during the last quarter. Citigroup Inc. raised its holdings in VEON by 13.4% in the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock valued at $7,567,000 after acquiring an additional 29,350 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of VEON during the third quarter worth approximately $2,069,000. Finally, JPMorgan Chase & Co. grew its position in shares of VEON by 41.5% in the third quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock valued at $81,000 after purchasing an additional 776 shares during the last quarter. 21.30% of the stock is currently owned by institutional investors.

VEON Trading Up 3.9 %

Shares of NASDAQ VEON opened at $45.05 on Monday. VEON has a fifty-two week low of $19.00 and a fifty-two week high of $48.39. The business has a 50-day moving average of $39.98 and a 200-day moving average of $33.09. 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 released its quarterly earnings data on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share for the quarter. 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 assumed coverage on shares of VEON in a research note on Tuesday, November 12th. They issued a “buy” rating and a $48.00 target price for the company.

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.