VEON (NASDAQ:VEON) Sees Strong Trading Volume – Still a Buy?

VEON Ltd. (NASDAQ:VEON) saw unusually-high trading volume on Thursday . Approximately 160,880 shares were traded during 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.

Analyst Upgrades and Downgrades

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 objective for the company.

VEON Stock Down 1.0 %

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

VEON (NASDAQ:VEON) last released its quarterly 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 81.71% and a positive return on equity of 36.48%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in VEON. Rhumbline Advisers increased its holdings in shares of VEON by 300.0% during the 4th quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider’s stock worth $29,000 after purchasing an additional 540 shares during the period. SBI Securities Co. Ltd. acquired a new stake in VEON during the fourth quarter worth $58,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in VEON by 100.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440 shares of the Wireless communications provider’s stock valued at $58,000 after buying an additional 720 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of VEON by 41.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock worth $81,000 after acquiring an additional 776 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of VEON during the 4th quarter worth about $101,000. 21.30% of the stock is owned by 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.