VEON (NASDAQ:VEON) Sees Unusually-High Trading Volume – Here’s What Happened

VEON Ltd. (NASDAQ:VEON) saw an uptick in trading volume on Tuesday . 31,711 shares changed hands during mid-day trading, a decline of 9% from the previous session’s volume of 34,836 shares.The stock last traded at $38.25 and had previously closed at $38.14.

Wall Street Analysts Forecast Growth

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

VEON Trading Down 2.3 %

The business has a 50-day moving average of $33.26 and a 200-day moving average of $29.63. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 5.87 and a beta of 1.55. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.76 and a current ratio of 0.77.

VEON (NASDAQ:VEON) last announced 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 Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Helikon Investments Ltd grew its holdings in shares of VEON by 8.1% during the second quarter. Helikon Investments Ltd now owns 2,739,275 shares of the Wireless communications provider’s stock worth $71,057,000 after buying an additional 206,200 shares during the last quarter. Lingotto Investment Management LLP lifted its position in VEON by 1.0% during 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 acquiring an additional 53,807 shares during the period. Samson Rock Capital LLP purchased a new position in shares of VEON in the 3rd quarter valued at approximately $913,000. Citigroup Inc. increased its holdings 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 valued at $7,567,000 after purchasing 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 approximately $2,069,000. 21.30% of the stock is currently owned by institutional investors and hedge funds.

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.