VEON (NASDAQ:VEON) Sees Strong Trading Volume – What’s Next?

VEON Ltd. (NASDAQ:VEON) saw unusually-strong trading volume on Wednesday . Approximately 69,727 shares changed hands during mid-day trading, a decline of 34% from the previous session’s volume of 106,242 shares.The stock last traded at $44.56 and had previously closed at $45.18.

Analyst Upgrades and Downgrades

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

VEON Price Performance

The firm has a fifty day moving average price of $35.38 and a two-hundred day moving average price of $30.68. 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 stock has a market capitalization of $3.33 billion, a P/E ratio of 7.08 and a beta of 1.51.

VEON (NASDAQ:VEON) last issued its 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%.

Institutional Trading of VEON

Several institutional investors have recently added to or reduced their stakes in 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 worth $139,754,000 after purchasing an additional 53,807 shares during the last quarter. Helikon Investments Ltd raised its position in VEON by 1.8% in the 3rd quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock worth $84,840,000 after buying an additional 49,680 shares during the last quarter. Citigroup Inc. lifted its stake in VEON by 13.4% during the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock valued at $7,567,000 after acquiring an additional 29,350 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of VEON during the 3rd quarter valued at about $2,069,000. Finally, Samson Rock Capital LLP bought a new stake in shares of VEON in the third quarter worth approximately $913,000. 21.30% of the stock is currently owned by hedge funds and other institutional investors.

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.