5 Best Penny Stocks to Buy Now

4. VEON Ltd. (NASDAQ: VEON)

Number of Hedge Fund Holders: 13    

VEON Ltd. (NASDAQ: VEON) is a Netherlands-based company that markets telecommunication and mobile services. It is ranked fourth on our list of 15 best penny stocks to buy now. It has a market cap of $2.7 billion and posted more than $7.8 billion in revenue last year. The company serves more than 200 million customers spread over countries such as Russia, Pakistan, Algeria, Uzbekistan, Ukraine, Bangladesh, Kazakhstan, Kyrgyzstan, and Georgia, among others. It markets services under the Beeline, Kyivstar, and Jazz brands. 

On June 17, investment advisory UBS upgraded VEON Ltd. (NASDAQ: VEON) stock to Buy from Neutral and raised the price target to $2.40 from $1.65. Ondrej Cabejsek, an analyst at the firm, issued the ratings update. 

At the end of the second quarter of 2021, 13 hedge funds in the database of Insider Monkey held stakes worth $51 million in VEON Ltd. (NASDAQ: VEON), up from 8 in the previous quarter worth $20 million.