VEON (NASDAQ:VEON) Shares Gap Up – Here’s What Happened

Shares of VEON Ltd. (NASDAQ:VEON) gapped up prior to trading on Tuesday . The stock had previously closed at $51.99, but opened at $53.95. VEON shares last traded at $54.9250, with a volume of 91,205 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wall Street Zen downgraded shares of VEON from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of VEON in a research note on Thursday, November 13th. Finally, Zacks Research lowered VEON from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.00.

VEON Stock Performance

The company has a debt-to-equity ratio of 2.57, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50-day moving average of $50.70 and a 200-day moving average of $51.14. The company has a market capitalization of $4.01 billion, a P/E ratio of 3.97 and a beta of 1.58.

VEON (NASDAQ:VEON) last announced its quarterly earnings data on Monday, November 10th. The Wireless communications provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.07). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. VEON had a net margin of 23.75% and a return on equity of 72.76%. VEON has set its FY 2025 guidance at EPS.

VEON announced that its Board of Directors has initiated a stock repurchase plan on Monday, November 17th that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the Wireless communications provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Osaic Holdings Inc. increased its position in shares of VEON by 36.8% during the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock worth $66,000 after purchasing an additional 388 shares in the last quarter. Samson Rock Capital LLP acquired a new position in VEON during the 2nd quarter valued at about $138,000. Truist Financial Corp purchased a new stake in VEON in the third quarter valued at about $208,000. Personal CFO Solutions LLC acquired a new stake in VEON in the third quarter worth about $208,000. Finally, Burns Matteson Capital Management LLC purchased a new stake in shares of VEON during the third quarter worth about $211,000. Institutional investors own 21.30% of the company’s stock.

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.