Short Interest in VEON Ltd. (NASDAQ:VEON) Drops By 29.3%

VEON Ltd. (NASDAQ:VEON) was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 49,900 shares, a decrease of 29.3% from the January 15th total of 70,600 shares. Based on an average trading volume of 91,400 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.1% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

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

Institutional Trading of VEON

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lingotto Investment Management LLP increased its position in shares of VEON by 2.9% during the 4th quarter. Lingotto Investment Management LLP now owns 5,740,438 shares of the Wireless communications provider’s stock worth $230,192,000 after purchasing an additional 159,714 shares during the last quarter. Helikon Investments Ltd boosted its stake in shares of VEON by 5.0% in 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 purchasing an additional 138,149 shares during the last quarter. Citigroup Inc. grew its holdings in VEON by 13.4% in the third quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock worth $7,567,000 after purchasing an additional 29,350 shares during the period. Russell Investments Group Ltd. boosted its stake in VEON by 2.2% during the 4th quarter. Russell Investments Group Ltd. now owns 117,808 shares of the Wireless communications provider’s stock valued at $4,724,000 after purchasing an additional 2,512 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in VEON in the third quarter worth $2,069,000. 21.30% of the stock is currently owned by institutional investors and hedge funds.

VEON Stock Performance

Shares of VEON opened at $45.69 on Friday. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.81 and a quick ratio of 0.80. VEON has a one year low of $21.96 and a one year high of $48.39. The stock has a 50-day moving average price of $41.53 and a 200 day moving average price of $33.95.

VEON (NASDAQ:VEON) last posted its quarterly earnings data on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share (EPS) for the quarter. VEON had a positive return on equity of 36.48% and a negative net margin of 81.71%.

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.