5 Cheap Small-Cap Stocks to Buy

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In this article, we discuss the 5 cheap small-cap stocks to buy. If you want to read our detailed analysis of cheap small-cap stocks, go directly to the 10 Cheap Small-Cap Stocks to Buy

5. VEON Ltd. (NASDAQ: VEON)

Number of Hedge Fund Holders: 13
Market Cap: $3.86 billion
Share Price as of September 13: $2.21

VEON Ltd. (NASDAQ: VEON) is a Dutch telecommunication and digital services company that offers services in telecommunication, voice, broadband, and wireless internet. The company ranks fifth on our list of the best cheap small-cap stocks to buy.

Recently, VEON Ltd. (NASDAQ: VEON) has signed an agreement to promote its Russian mobile network towers to Service Telecom, a Russian independent tower company. The deal is valued at $970 million and would provide an opportunity for the company to expand its operations in Russia, where it is already operating over 15,000 communication towers. In Q2 2021, VEON Ltd. (NASDAQ: VEON) reported revenue of $2.06 billion, beating the estimates by $46.1 million.

In August, BofA double-upgraded VEON Ltd. (NASDAQ: VEON) to ‘Buy’ with a $2.70 price target due to the company’s strong balance sheet. The firm’s analyst Cesar Tiron noted the company’s potential in its tower monetization and estimated that its free cash flow could rise to $624 million in 2023. VEON Ltd. (NASDAQ: VEON) gained 80.08% in the past year and 41.08% year to date.

The number of hedge funds having stakes in VEON Ltd. (NASDAQ: VEON) grew from 8 in the previous quarter to 13 in Q2 2021. The total value of these stakes is $51.4 million, compared with $20.2 million in the previous quarter. With 15.7 million shares, worth $28.8 million, Shah Capital Management is the company’s leading shareholder.

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