VEON (NASDAQ:VEON) Sees Large Volume Increase – Here’s What Happened

Shares of VEON Ltd. (NASDAQ:VEON) saw unusually-strong trading volume on Tuesday . Approximately 154,394 shares traded hands during mid-day trading, an increase of 82% from the previous session’s volume of 84,977 shares.The stock last traded at $54.40 and had previously closed at $52.65.

Analyst Upgrades and Downgrades

Separately, Benchmark lifted their price target on VEON from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, March 25th.

VEON Trading Up 4.1%

The business has a 50 day moving average of $45.59 and a two-hundred day moving average of $42.33. The firm has a market cap of $4.06 billion, a P/E ratio of 8.65 and a beta of 1.43. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 2.34.

VEON (NASDAQ:VEON) last issued its quarterly earnings data on Thursday, May 15th. The Wireless communications provider reported $1.36 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.53. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $996.00 million. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%.

Institutional Investors Weigh In On VEON

A number of institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in VEON by 41.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock worth $81,000 after purchasing an additional 776 shares during the last quarter. Helikon Investments Ltd increased its position in VEON by 5.0% during the 4th quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock worth $117,377,000 after buying an additional 138,149 shares during the period. R Squared Ltd acquired a new stake in shares of VEON during the fourth quarter worth $101,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of VEON by 100.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440 shares of the Wireless communications provider’s stock valued at $58,000 after acquiring an additional 720 shares during the period. Finally, Samson Rock Capital LLP grew its stake in shares of VEON by 20.0% in the fourth quarter. Samson Rock Capital LLP now owns 36,000 shares of the Wireless communications provider’s stock valued at $1,444,000 after acquiring an additional 6,000 shares in the last quarter. Institutional investors 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.