VEON (NASDAQ:VEON) Sees Strong Trading Volume – What’s Next?

VEON Ltd. (NASDAQ:VEON) saw strong trading volume on Tuesday . 24,915 shares changed hands during mid-day 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.

Analysts Set New Price Targets

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

VEON Stock Down 0.2 %

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 company’s fifty day moving average price is $34.30 and its 200-day moving average price is $30.14. The stock has a market capitalization of $2.97 billion, a PE ratio of 6.31 and a beta of 1.55.

VEON (NASDAQ:VEON) last announced its quarterly earnings data on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share (EPS) for the quarter. VEON had a positive return on equity of 28.73% and a negative net margin of 77.48%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of VEON in the 3rd quarter worth $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 buying an additional 53,807 shares during the last quarter. Helikon Investments Ltd increased its holdings in VEON by 1.8% in the 3rd quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock worth $84,840,000 after buying an additional 49,680 shares in the last quarter. Samson Rock Capital LLP purchased a new position in VEON in the 3rd quarter worth about $913,000. Finally, Citigroup Inc. lifted its stake in VEON by 13.4% during the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock valued at $7,567,000 after acquiring an additional 29,350 shares during the period. 21.30% of the stock is owned by hedge funds and other institutional investors.

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.