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

VEON Ltd. (NASDAQ:VEON) saw unusually-strong trading volume on Tuesday . Approximately 24,915 shares traded 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.

Wall Street Analyst Weigh In

Separately, Benchmark began coverage on VEON in a research note on Tuesday, November 12th. They issued 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 stock has a market cap of $2.97 billion, a P/E ratio of 6.31 and a beta of 1.55. The firm has a 50 day moving average price of $34.30 and a 200 day moving average price of $30.14.

VEON (NASDAQ:VEON) last released 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

Institutional investors and hedge funds have recently modified their holdings of the company. Lingotto Investment Management LLP boosted its holdings in VEON by 1.0% in 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 buying an additional 53,807 shares during the period. Samson Rock Capital LLP purchased a new position in shares of VEON in the third quarter valued at about $913,000. Helikon Investments Ltd lifted its position in shares of 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. boosted its stake in shares of VEON by 13.4% in the third 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 during the period. Finally, 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 about $2,069,000. 21.30% of the stock is currently owned by 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.