VEON (NASDAQ:VEON) Shares Down 4.7% – Time to Sell?

VEON Ltd. (NASDAQ:VEON) shares dropped 4.7% during trading on Thursday . The stock traded as low as $42.89 and last traded at $42.98. Approximately 62,483 shares changed hands during trading, a decline of 56% from the average daily volume of 142,525 shares. The stock had previously closed at $45.10.

Wall Street Analysts Forecast Growth

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

VEON Stock Down 3.9 %

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

VEON (NASDAQ:VEON) last released its quarterly earnings results 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%.

Institutional Investors Weigh In On VEON

Several hedge funds have recently modified their holdings of the stock. Helikon Investments Ltd lifted its holdings in shares of VEON by 5.0% during the 4th quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock valued at $117,377,000 after acquiring an additional 138,149 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of VEON during the 3rd quarter worth $2,069,000. Samson Rock Capital LLP acquired a new stake in shares of VEON in the third quarter worth $913,000. Citigroup Inc. grew its position in VEON by 13.4% in the third 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. Finally, GAMMA Investing LLC acquired a new stake in shares of VEON in the fourth quarter valued at approximately $119,000. 21.30% of the stock is owned by institutional investors and hedge funds.

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.