VEON Ltd (VEON) Short Interest Update

VEON Ltd (NASDAQ:VEON) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 10,566,998 shares, a drop of 24.8% from the August 15th total of 14,052,939 shares. Based on an average daily trading volume, of 2,339,806 shares, the short-interest ratio is currently 4.5 days.

Several equities analysts have issued reports on the company. Zacks Investment Research upgraded VEON from a “sell” rating to a “buy” rating and set a $3.00 target price on the stock in a research note on Wednesday, August 22nd. BidaskClub upgraded VEON from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 22nd. HSBC upgraded VEON from a “hold” rating to a “buy” rating in a research note on Monday, August 20th. Goldman Sachs Group upgraded VEON from a “neutral” rating to a “buy” rating and set a $4.00 target price on the stock in a research note on Thursday, July 5th. Finally, JPMorgan Chase & Co. upgraded VEON from a “neutral” rating to an “overweight” rating in a research note on Tuesday, July 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. VEON currently has a consensus rating of “Hold” and a consensus target price of $3.50.

A number of institutional investors and hedge funds have recently bought and sold shares of VEON. FDx Advisors Inc. grew its stake in VEON by 53.5% in the first quarter. FDx Advisors Inc. now owns 99,346 shares of the Wireless communications provider’s stock valued at $262,000 after purchasing an additional 34,613 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of VEON by 18.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 989,288 shares of the Wireless communications provider’s stock worth $2,612,000 after acquiring an additional 154,853 shares during the last quarter. BlackRock Inc. grew its stake in shares of VEON by 42.3% during the first quarter. BlackRock Inc. now owns 123,320 shares of the Wireless communications provider’s stock worth $326,000 after acquiring an additional 36,651 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of VEON by 3.1% during the first quarter. JPMorgan Chase & Co. now owns 881,488 shares of the Wireless communications provider’s stock worth $2,328,000 after acquiring an additional 26,719 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of VEON by 2.0% during the first quarter. Allianz Asset Management GmbH now owns 1,482,169 shares of the Wireless communications provider’s stock worth $3,912,000 after acquiring an additional 29,084 shares during the last quarter. Institutional investors own 15.25% of the company’s stock.

VEON opened at $2.82 on Friday. VEON has a 1 year low of $2.20 and a 1 year high of $4.40. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.94 and a current ratio of 0.97. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 47.00 and a beta of 2.50.

VEON (NASDAQ:VEON) last posted its earnings results on Thursday, August 2nd. The Wireless communications provider reported $0.02 earnings per share (EPS) for the quarter. VEON had a negative return on equity of 8.79% and a negative net margin of 5.38%. The company had revenue of $2.27 billion for the quarter. sell-side analysts predict that VEON will post 0.16 EPS for the current fiscal year.

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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