VEON (NASDAQ:VEON) Trading Up 4.8% – What’s Next?

VEON Ltd. (NASDAQ:VEON) was up 4.8% during trading on Monday . The company traded as high as $31.25 and last traded at $30.93. Approximately 26,414 shares were traded during trading, a decline of 14% from the average daily volume of 30,620 shares. The stock had previously closed at $29.50.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of VEON from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 5th.

VEON Stock Performance

The company has a 50 day simple moving average of $28.80 and a 200-day simple moving average of $26.74. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 2.66.

VEON (NASDAQ:VEON) last announced its quarterly earnings data on Friday, August 30th. The Wireless communications provider reported $1.00 earnings per share for the quarter. The business had revenue of $1.03 billion for the quarter.

Hedge Funds Weigh In On VEON

Hedge funds and other institutional investors have recently modified their holdings of the company. Monaco Asset Management SAM grew its position in VEON by 8.5% in the 1st quarter. Monaco Asset Management SAM now owns 25,830 shares of the Wireless communications provider’s stock worth $620,000 after purchasing an additional 2,030 shares during the last quarter. Gamco Investors INC. ET AL bought a new stake in VEON during the 1st quarter valued at $376,000. Gabelli Funds LLC boosted its position in VEON by 18.8% during the 1st quarter. Gabelli Funds LLC now owns 129,496 shares of the Wireless communications provider’s stock worth $3,109,000 after acquiring an additional 20,456 shares during the period. Samson Rock Capital LLP bought a new position in shares of VEON in the third quarter worth $913,000. Finally, Wellington Management Group LLP raised its stake in shares of VEON by 8.9% during the fourth quarter. Wellington Management Group LLP now owns 540,347 shares of the Wireless communications provider’s stock valued at $10,645,000 after purchasing an additional 44,013 shares in the last quarter. Institutional investors and hedge funds 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.