VEON (NASDAQ:VEON) Stock Price Up 5.2% – Here’s Why

VEON Ltd. (NASDAQ:VEON) rose 5.2% on Monday . The stock traded as high as $44.00 and last traded at $44.23. Approximately 17,974 shares traded hands during trading, a decline of 67% from the average daily volume of 54,589 shares. The stock had previously closed at $42.04.

Analysts Set New Price Targets

Separately, Benchmark boosted their price objective on VEON from $48.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd.

VEON Stock Up 2.7 %

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 market capitalization of $3.40 billion, a P/E ratio of 6.15 and a beta of 1.47. The firm has a 50 day moving average of $44.32 and a 200-day moving average of $36.84.

Institutional Investors Weigh In On VEON

Several large investors have recently modified their holdings of VEON. Rhumbline Advisers grew its stake in shares of VEON by 300.0% in the 4th quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider’s stock valued at $29,000 after purchasing an additional 540 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of VEON in the 4th quarter valued at approximately $58,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of VEON by 100.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440 shares of the Wireless communications provider’s stock valued at $58,000 after purchasing an additional 720 shares during the period. JPMorgan Chase & Co. grew its stake in shares of VEON by 41.5% in the 3rd 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 period. Finally, R Squared Ltd bought a new stake in shares of VEON in the 4th quarter valued at approximately $101,000. 21.30% of the stock is currently owned by institutional investors.

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.