VEON (NASDAQ:VEON) Sees Large Volume Increase – Here’s Why

Shares of VEON Ltd. (NASDAQ:VEON) saw strong trading volume on Monday . 78,008 shares were traded 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.

Analysts Set New Price Targets

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

VEON Stock Down 0.8 %

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 firm’s 50 day moving average price is $44.37 and its two-hundred day moving average price is $37.87. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 7.79 and a beta of 1.47.

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

Hedge Funds Weigh In On VEON

Large investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in VEON in the 3rd quarter valued at about $2,069,000. SBI Securities Co. Ltd. acquired a new position in shares of VEON in the fourth quarter valued at approximately $58,000. Citigroup Inc. increased its stake in shares of VEON by 13.4% during the third quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock worth $7,567,000 after purchasing an additional 29,350 shares during the period. Helikon Investments Ltd boosted its stake in VEON by 5.0% in the 4th quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock valued at $117,377,000 after purchasing an additional 138,149 shares during the period. Finally, Samson Rock Capital LLP grew its holdings in VEON by 20.0% in the 4th quarter. Samson Rock Capital LLP now owns 36,000 shares of the Wireless communications provider’s stock valued at $1,444,000 after buying an additional 6,000 shares in the last quarter. 21.30% of the stock is owned by institutional investors.

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.