VEON (NASDAQ:VEON) Sees Large Volume Increase – Time to Buy?

Shares of VEON Ltd. (NASDAQ:VEON) saw unusually-strong trading volume on Monday . Approximately 78,008 shares changed hands during mid-day trading, an increase of 37% from the previous session’s volume of 57,138 shares.The stock last traded at $43.84 and had previously closed at $44.99.

Analyst Ratings Changes

Separately, Benchmark increased their target price on shares of VEON from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, March 25th.

VEON Price Performance

The business’s 50 day moving average is $44.37 and its 200-day moving average is $37.87. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.34. The firm has a market capitalization of $3.30 billion, a P/E ratio of 7.79 and a beta of 1.47.

VEON (NASDAQ:VEON) last posted its quarterly earnings results on Thursday, March 20th. The Wireless communications provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The company had revenue of $998.00 million during the quarter, compared to analysts’ expectations of $1.01 billion. VEON had a positive return on equity of 36.48% and a negative net margin of 81.71%.

Hedge Funds Weigh In On VEON

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. VR Advisory Services Ltd bought a new position in shares of VEON in the 4th quarter valued at $1,712,000. Tidal Investments LLC bought a new stake in shares of VEON in the fourth quarter worth $484,000. J. Goldman & Co LP bought a new stake in VEON in the fourth quarter valued at approximately $2,084,000. Diameter Capital Partners LP acquired a new stake in VEON during the 4th quarter valued at approximately $25,161,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of VEON in the 4th quarter worth approximately $245,000. 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.