VEON (NASDAQ:VEON) Sees Unusually-High Trading Volume – Still a Buy?

Shares of VEON Ltd. (NASDAQ:VEON) saw an uptick in trading volume on Tuesday . 74,343 shares were traded during trading, an increase of 35% from the previous session’s volume of 55,022 shares.The stock last traded at $45.75 and had previously closed at $44.75.

Wall Street Analyst Weigh In

Separately, Benchmark boosted their target price on shares of VEON from $48.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, March 3rd.

VEON Price Performance

The firm’s 50-day moving average is $44.35 and its 200-day moving average is $36.90. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.81 and a quick ratio of 0.80. The company has a market capitalization of $3.40 billion, a P/E ratio of 6.14 and a beta of 1.47.

Hedge Funds Weigh In On VEON

Large investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in VEON during the third quarter valued at approximately $2,069,000. SBI Securities Co. Ltd. purchased a new position in VEON during the fourth quarter valued at approximately $58,000. Citigroup Inc. lifted its holdings in VEON by 13.4% during the third quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock valued at $7,567,000 after purchasing an additional 29,350 shares in the last quarter. Helikon Investments Ltd lifted its holdings in VEON by 5.0% during the fourth quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock valued at $117,377,000 after purchasing an additional 138,149 shares in the last quarter. Finally, Samson Rock Capital LLP lifted its holdings in VEON by 20.0% during 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 purchasing an additional 6,000 shares in the last quarter. Hedge funds and other 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.