VEON (NASDAQ:VEON) Sees Unusually-High Trading Volume – Should You Buy?

VEON Ltd. (NASDAQ:VEON) shares saw an uptick in trading volume on Tuesday . 31,711 shares traded hands during trading, a decline of 9% from the previous session’s volume of 34,836 shares.The stock last traded at $38.25 and had previously closed at $38.14.

Analyst Upgrades and Downgrades

Separately, Benchmark began coverage on VEON in a report on Tuesday, November 12th. They set a “buy” rating and a $48.00 target price for the company.

VEON Stock Performance

The stock has a market capitalization of $2.76 billion, a PE ratio of 5.87 and a beta of 1.55. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.76 and a current ratio of 0.77. The firm’s 50 day moving average is $33.26 and its two-hundred day moving average is $29.63.

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

Hedge Funds Weigh In On VEON

Hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of VEON during the third quarter worth approximately $2,069,000. 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. Helikon Investments Ltd increased its position in shares of VEON by 1.8% in the 3rd quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock valued at $84,840,000 after purchasing an additional 49,680 shares during the last quarter. Samson Rock Capital LLP acquired a new stake in shares of VEON in the 3rd quarter valued at $913,000. Finally, Lingotto Investment Management LLP lifted its position in shares of VEON by 1.0% during the 2nd quarter. Lingotto Investment Management LLP now owns 5,387,582 shares of the Wireless communications provider’s stock worth $139,754,000 after purchasing an additional 53,807 shares during the last quarter. Hedge funds and other institutional investors 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.