Short Interest in VEON Ltd. (NASDAQ:VEON) Decreases By 16.0%

VEON Ltd. (NASDAQ:VEON) was the target of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 56,500 shares, a drop of 16.0% from the November 15th total of 67,300 shares. Based on an average trading volume of 37,900 shares, the short-interest ratio is currently 1.5 days. Approximately 0.1% of the company’s shares are short sold.

VEON Trading Down 1.7 %

Shares of VEON stock opened at $36.47 on Friday. The business has a 50 day moving average of $32.18 and a 200 day moving average of $28.97. VEON has a 52 week low of $18.50 and a 52 week high of $38.00. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.76 and a current ratio of 0.77.

Institutional Investors Weigh In On VEON

Institutional investors and hedge funds have recently modified their holdings of the stock. Samson Rock Capital LLP purchased a new position in shares of VEON in the 3rd quarter valued at approximately $913,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in VEON in the third quarter worth $2,069,000. Citigroup Inc. lifted its position in VEON by 13.4% during the third quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock valued at $7,567,000 after buying an additional 29,350 shares during the period. Helikon Investments Ltd boosted its holdings in shares of VEON by 8.1% during the 2nd quarter. Helikon Investments Ltd now owns 2,739,275 shares of the Wireless communications provider’s stock valued at $71,057,000 after buying an additional 206,200 shares in the last quarter. Finally, Lingotto Investment Management LLP grew its position in shares of VEON by 1.0% in the 2nd quarter. Lingotto Investment Management LLP now owns 5,387,582 shares of the Wireless communications provider’s stock worth $139,754,000 after buying an additional 53,807 shares during the period. 21.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Benchmark initiated coverage on shares of VEON in a research note on Tuesday, November 12th. They set a “buy” rating and a $48.00 price objective for the company.

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.