VEON Ltd. (NASDAQ:VEON) Short Interest Up 56.9% in July

VEON Ltd. (NASDAQ:VEON) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 354,000 shares, anincreaseof56.9% from the July 15th total of 225,600 shares. Approximately0.5% of the company’s shares are sold short. Based on an average daily volume of 260,900 shares, the short-interest ratio is currently 1.4 days. Based on an average daily volume of 260,900 shares, the short-interest ratio is currently 1.4 days. Approximately0.5% of the company’s shares are sold short.

VEON Trading Up 3.8%

NASDAQ:VEON opened at $62.72 on Wednesday. The firm has a market capitalization of $4.64 billion, a PE ratio of 4.60 and a beta of 1.50. The business’s 50-day moving average is $49.21 and its two-hundred day moving average is $46.92. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.80. VEON has a 12 month low of $25.92 and a 12 month high of $64.00.

VEON (NASDAQ:VEON) last announced its earnings results on Thursday, August 7th. The Wireless communications provider reported $8.30 earnings per share for the quarter, beating the consensus estimate of $0.95 by $7.35. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.02 billion. VEON had a net margin of 23.75% and a return on equity of 75.40%. VEON has set its FY 2025 guidance at EPS.

Wall Street Analysts Forecast Growth

VEON has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of VEON from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 29th. Benchmark reaffirmed a “buy” rating and set a $60.00 price target on shares of VEON in a research note on Monday, June 16th. Finally, Litchfield Hills Research raised shares of VEON to a “strong-buy” rating in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat, VEON has a consensus rating of “Strong Buy” and an average price target of $60.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Samson Rock Capital LLP purchased a new position in shares of VEON in the second quarter valued at $138,000. GAMMA Investing LLC increased its holdings in VEON by 21.3% during the 1st quarter. GAMMA Investing LLC now owns 3,613 shares of the Wireless communications provider’s stock worth $158,000 after purchasing an additional 635 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in VEON during the 4th quarter worth approximately $163,000. JPMorgan Chase & Co. increased its holdings in VEON by 120.8% during the 4th quarter. JPMorgan Chase & Co. now owns 5,848 shares of the Wireless communications provider’s stock worth $235,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in VEON during the 4th quarter worth approximately $236,000. 21.30% of the stock is currently owned by hedge funds and other 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.