VEON (NASDAQ:VEON) Sees Strong Trading Volume – Here’s Why

VEON Ltd. (NASDAQ:VEONGet Free Report) saw unusually-high trading volume on Wednesday . Approximately 69,727 shares changed hands during 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.

Wall Street Analyst Weigh In

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

Get Our Latest Research Report on VEON

VEON Price Performance

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 business has a 50-day simple moving average of $35.38 and a 200 day simple moving average of $30.68. The firm has a market cap of $3.33 billion, a P/E ratio of 7.08 and a beta of 1.51.

VEON (NASDAQ:VEONGet Free Report) last announced its quarterly earnings results on Friday, December 13th. The Wireless communications provider reported $3.00 EPS 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

Several hedge funds and other institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in VEON during the 3rd quarter valued at approximately $2,069,000. Lingotto Investment Management LLP boosted its position in shares of 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 purchasing an additional 53,807 shares in the last quarter. Helikon Investments Ltd grew its stake in VEON by 1.8% in the third quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock worth $84,840,000 after purchasing an additional 49,680 shares during the period. Samson Rock Capital LLP purchased a new stake in VEON in the third quarter worth $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 worth $7,567,000 after purchasing an additional 29,350 shares in the last quarter. Hedge funds and other institutional investors own 21.30% of the company’s stock.

About VEON

(Get Free Report)

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.

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