VEON (NASDAQ:VEON) Sees Strong Trading Volume – Still a Buy?

VEON Ltd. (NASDAQ:VEON) shares saw unusually-high trading volume on Monday . Approximately 82,228 shares were traded during mid-day 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 started coverage on VEON in a research report on Tuesday, November 12th. They set a “buy” rating and a $48.00 price target for the company.

VEON Trading Down 0.2 %

The company has a debt-to-equity ratio of 2.66, a current ratio of 0.77 and a quick ratio of 0.76. The stock’s 50-day simple moving average is $31.54 and its 200 day simple moving average is $28.54.

Institutional Investors Weigh In On VEON

Institutional investors have recently added to or reduced their stakes in the business. Helikon Investments Ltd raised its stake in VEON by 8.1% during the 2nd quarter. Helikon Investments Ltd now owns 2,739,275 shares of the Wireless communications provider’s stock worth $71,057,000 after acquiring an additional 206,200 shares in the last quarter. Lingotto Investment Management LLP lifted its stake in 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 valued at $139,754,000 after buying an additional 53,807 shares during the last quarter. Samson Rock Capital LLP acquired a new stake in shares of VEON in the third quarter valued at approximately $913,000. Citigroup Inc. grew its position in shares of VEON by 13.4% during 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 last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in VEON in the 3rd quarter valued at $2,069,000. Hedge funds and other institutional investors own 21.30% of the company’s stock.

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.