VEON Ltd (VEON) Sees Significant Growth in Short Interest

VEON Ltd (NASDAQ:VEON) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 6,787,116 shares, an increase of 30.6% from the February 15th total of 5,196,188 shares. Based on an average trading volume of 12,077,298 shares, the short-interest ratio is currently 0.6 days.

A number of large investors have recently modified their holdings of the stock. Jane Street Group LLC lifted its stake in VEON by 164.6% in the 4th quarter. Jane Street Group LLC now owns 210,570 shares of the Wireless communications provider’s stock valued at $809,000 after purchasing an additional 130,989 shares during the last quarter. Two Sigma Securities LLC bought a new position in VEON in the 4th quarter valued at approximately $513,000. Two Sigma Investments LP lifted its stake in VEON by 46.4% in the 4th quarter. Two Sigma Investments LP now owns 1,710,951 shares of the Wireless communications provider’s stock valued at $6,570,000 after purchasing an additional 542,363 shares during the last quarter. Two Sigma Advisers LP bought a new position in VEON in the 4th quarter valued at approximately $230,000. Finally, Guggenheim Capital LLC bought a new position in VEON in the 4th quarter valued at approximately $355,000. 16.39% of the stock is owned by institutional investors and hedge funds.

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NASDAQ:VEON traded down $0.01 on Monday, hitting $2.63. The company had a trading volume of 4,361,032 shares, compared to its average volume of 5,682,463. The company has a market cap of $4,637.77, a price-to-earnings ratio of 43.83 and a beta of 2.15. The company has a debt-to-equity ratio of 2.64, a current ratio of 0.95 and a quick ratio of 0.93. VEON has a 52 week low of $2.51 and a 52 week high of $4.47.

The business also recently disclosed a special dividend, which was paid on Tuesday, March 13th. Investors of record on Monday, March 5th were paid a $0.17 dividend. This represents a yield of 3.56%. The ex-dividend date was Friday, March 2nd. VEON’s payout ratio is 416.67%.

A number of analysts have recently weighed in on VEON shares. Zacks Investment Research downgraded shares of VEON from a “buy” rating to a “hold” rating in a report on Friday, January 26th. BidaskClub downgraded shares of VEON from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Gabelli reaffirmed a “buy” rating on shares of VEON in a report on Friday, February 16th. UBS downgraded shares of VEON from a “buy” rating to a “neutral” rating in a report on Tuesday, March 6th. Finally, Goldman Sachs downgraded shares of VEON from a “buy” rating to a “neutral” rating in a report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. VEON presently has a consensus rating of “Hold” and an average price target of $5.33.

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About VEON

VEON Ltd., formerly VimpelCom Ltd., is a provider of communications services. The Company operates as personal internet platform. It integrates powerful data analytics and artificial intelligence, with a fresh take on messaging capabilities. It enables its users and communities to connect by voice, text, picture and video through a designed interface.

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