VEON Ltd (NASDAQ:VEON) was the target of a significant growth in short interest in December. As of December 29th, there was short interest totalling 5,693,722 shares, a growth of 29.9% from the December 15th total of 4,384,690 shares. Based on an average daily trading volume, of 2,314,017 shares, the days-to-cover ratio is presently 2.5 days.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Investec Asset Management North America Inc. bought a new position in VEON in the 3rd quarter valued at $6,799,000. Investec Asset Management LTD acquired a new position in shares of VEON in the 3rd quarter valued at $25,977,000. DnB Asset Management AS acquired a new position in shares of VEON in the 4th quarter valued at $7,493,000. Schwab Charles Investment Management Inc. lifted its stake in shares of VEON by 6.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 834,435 shares of the Wireless communications provider’s stock valued at $3,205,000 after purchasing an additional 50,504 shares during the period. Finally, Commerzbank Aktiengesellschaft FI raised its stake in VEON by 34.3% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 138,497 shares of the Wireless communications provider’s stock worth $532,000 after buying an additional 35,341 shares during the period. Institutional investors and hedge funds own 15.14% of the company’s stock.
A number of research analysts have recently weighed in on VEON shares. Zacks Investment Research downgraded VEON from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. BidaskClub downgraded VEON from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $5.31.
VEON (NASDAQ VEON) traded down $0.13 during trading on Friday, reaching $3.65. The company’s stock had a trading volume of 4,984,953 shares, compared to its average volume of 3,215,435. VEON has a 12-month low of $3.64 and a 12-month high of $4.50. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 2.29.
VEON (NASDAQ:VEON) last released its quarterly earnings data on Thursday, November 9th. The Wireless communications provider reported $0.07 earnings per share for the quarter. VEON had a negative return on equity of 6.53% and a net margin of 14.71%. The company had revenue of $2.46 billion for the quarter. analysts expect that VEON will post 0.04 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “VEON Ltd (NASDAQ:VEON) Sees Significant Increase in Short Interest” was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this story on another site, it was illegally stolen and reposted in violation of United States & international copyright laws. The legal version of this story can be accessed at https://www.dispatchtribunal.com/2018/02/03/veon-ltd-veon-short-interest-update.html.
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.
Receive News & Ratings for VEON Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VEON and related companies with MarketBeat.com's FREE daily email newsletter.