VEON (NASDAQ:VEON) Sees Unusually-High Trading Volume – Time to Buy?

VEON Ltd. (NASDAQ:VEON) shares saw strong trading volume on Tuesday . 24,915 shares changed hands during trading, a decline of 31% from the previous session’s volume of 36,260 shares.The stock last traded at $41.62 and had previously closed at $40.19.

Analyst Ratings Changes

Separately, Benchmark initiated coverage on shares of VEON in a research note on Tuesday, November 12th. They issued a “buy” rating and a $48.00 price target on the stock.

VEON Price Performance

The company has a fifty day moving average of $33.95 and a 200-day moving average of $29.97. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 2.66. The stock has a market cap of $2.97 billion, a PE ratio of 6.32 and a beta of 1.55.

VEON (NASDAQ:VEON) last issued its quarterly earnings results on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share (EPS) for the quarter. VEON had a negative net margin of 77.48% and a positive return on equity of 28.73%.

Hedge Funds Weigh In On VEON

Several institutional investors have recently modified their holdings of the business. Lingotto Investment Management LLP raised its stake in shares of VEON by 1.0% in the second quarter. Lingotto Investment Management LLP now owns 5,387,582 shares of the Wireless communications provider’s stock valued at $139,754,000 after acquiring an additional 53,807 shares in the last quarter. Helikon Investments Ltd raised its holdings in VEON by 1.8% in the third quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock valued at $84,840,000 after acquiring an additional 49,680 shares in the last quarter. Citigroup Inc. grew its holdings in VEON by 13.4% during the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock worth $7,567,000 after acquiring an additional 29,350 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of VEON in the 3rd quarter valued at approximately $2,069,000. Finally, Samson Rock Capital LLP acquired a new stake in shares of VEON in the 3rd quarter valued at $913,000. Institutional investors and hedge funds own 21.30% of the company’s stock.

VEON Company Profile

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.