VEON Ltd. (VEON) Sees Large Growth in Short Interest

VEON Ltd. (NASDAQ:VEON) was the recipient of a significant growth in short interest during the month of April. As of April 30th, there was short interest totalling 19,380,092 shares, a growth of 34.4% from the April 13th total of 14,417,386 shares. Based on an average daily volume of 8,650,525 shares, the days-to-cover ratio is currently 2.2 days.

Shares of VEON stock opened at $2.68 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 2.64. The company has a market cap of $4.57 billion, a P/E ratio of 44.67 and a beta of 2.15. VEON has a 52 week low of $2.62 and a 52 week high of $2.69.

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VEON (NASDAQ:VEON) last announced its earnings results on Thursday, March 15th. The Wireless communications provider reported ($0.19) EPS for the quarter. The business had revenue of $2.32 billion for the quarter. VEON had a negative net margin of 5.66% and a negative return on equity of 7.68%. equities analysts predict that VEON will post 0.3 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in VEON. DnB Asset Management AS bought a new position in shares of VEON during the fourth quarter valued at approximately $7,493,000. Schwab Charles Investment Management Inc. raised its holdings in VEON by 6.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 834,435 shares of the Wireless communications provider’s stock worth $3,205,000 after purchasing an additional 50,504 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in VEON by 34.3% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 138,497 shares of the Wireless communications provider’s stock worth $532,000 after purchasing an additional 35,341 shares in the last quarter. Verde Servicos Internacionais S.A. raised its holdings in VEON by 2.9% in the fourth quarter. Verde Servicos Internacionais S.A. now owns 1,223,085 shares of the Wireless communications provider’s stock worth $4,696,000 after purchasing an additional 35,000 shares in the last quarter. Finally, Boston Partners raised its holdings in VEON by 25.0% in the fourth quarter. Boston Partners now owns 219,941 shares of the Wireless communications provider’s stock worth $845,000 after purchasing an additional 43,961 shares in the last quarter. Institutional investors own 16.60% of the company’s stock.

VEON has been the subject of several recent research reports. UBS downgraded VEON from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 6th. BidaskClub downgraded VEON from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. ValuEngine upgraded VEON from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Zacks Investment Research downgraded VEON from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 3rd. Finally, Gabelli reiterated a “buy” rating on shares of VEON in a research report on Friday, February 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $5.33.

VEON Company Profile

VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of traditional and broadband mobile and fixed line technologies. The company provides mobile telecommunications services under contract and prepaid plans for corporate and consumer segments; value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile Internet, downloadable content, mobile finance, machine-to-machine, and other services; national and international roaming services; and mobile bundles.

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