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

VEON Ltd. (NASDAQ:VEON) shares saw strong trading volume on Thursday . 160,880 shares traded hands during mid-day trading, an increase of 33% from the previous session’s volume of 120,886 shares.The stock last traded at $46.10 and had previously closed at $43.65.

Wall Street Analysts Forecast Growth

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

VEON Trading Down 1.0 %

The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 2.34. The business’s 50-day moving average price is $41.74 and its two-hundred day moving average price is $34.03.

VEON (NASDAQ:VEON) last released its quarterly earnings data on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share for the quarter. VEON had a positive return on equity of 36.48% and a negative net margin of 81.71%.

Institutional Investors Weigh In On VEON

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new stake in VEON in the 4th quarter valued at $236,000. Cyrus Capital Partners L.P. acquired a new position in shares of VEON in the fourth quarter valued at about $2,994,000. Walleye Capital LLC bought a new position in VEON during the fourth quarter worth about $264,000. Russell Investments Group Ltd. increased its holdings in shares of VEON by 2.2% during the fourth quarter. Russell Investments Group Ltd. now owns 117,808 shares of the Wireless communications provider’s stock worth $4,724,000 after purchasing an additional 2,512 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of VEON by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 43,322 shares of the Wireless communications provider’s stock valued at $1,737,000 after buying an additional 1,254 shares during the period. Institutional investors and hedge funds 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.