VEON (NASDAQ:VEON) Sees Strong Trading Volume – Time to Buy?

VEON Ltd. (NASDAQ:VEON) shares saw strong trading volume on Monday . 82,228 shares changed hands during trading, an increase of 160% from the previous session’s volume of 31,574 shares.The stock last traded at $34.93 and had previously closed at $33.95.

Analysts Set New Price Targets

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

VEON Price Performance

The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 2.66. The firm’s 50 day moving average is $31.54 and its two-hundred day moving average is $28.54.

Hedge Funds Weigh In On VEON

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Helikon Investments Ltd grew its stake in shares of VEON by 8.1% during the 2nd quarter. Helikon Investments Ltd now owns 2,739,275 shares of the Wireless communications provider’s stock valued at $71,057,000 after buying an additional 206,200 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in VEON in the third quarter valued at $2,069,000. Lingotto Investment Management LLP grew its position in VEON by 1.0% during 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 during the period. Samson Rock Capital LLP purchased a new stake in shares of VEON during the 3rd quarter worth about $913,000. Finally, Citigroup Inc. raised its holdings in VEON by 13.4% in the third quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock valued at $7,567,000 after buying an additional 29,350 shares during the period. Institutional investors and hedge funds 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.