VEON (NASDAQ:VEON) Sees Strong Trading Volume – Should You Buy?

Shares of VEON Ltd. (NASDAQ:VEON) saw unusually-strong trading volume on Monday . Approximately 82,228 shares were traded during mid-day trading, an increase of 160% from the previous session’s volume of 31,574 shares.The stock last traded at $34.93 and had previously closed at $33.95.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on VEON shares. Benchmark assumed coverage on shares of VEON in a report on Tuesday, November 12th. They set a “buy” rating and a $48.00 target price on the stock. StockNews.com raised shares of VEON from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 5th.

VEON Stock Performance

The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.76 and a current ratio of 0.77. The firm’s 50 day simple moving average is $31.37 and its 200-day simple moving average is $28.42. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 5.20 and a beta of 1.56.

VEON (NASDAQ:VEON) last posted its quarterly earnings results on Friday, August 30th. The Wireless communications provider reported $1.00 EPS for the quarter. VEON had a positive return on equity of 28.73% and a negative net margin of 77.48%. The business had revenue of $1.03 billion for the quarter.

Institutional Trading of VEON

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Citigroup Inc. grew its position 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 buying an additional 29,350 shares in the last quarter. Samson Rock Capital LLP acquired a new position in shares of VEON during the third quarter worth about $913,000. Helikon Investments Ltd grew its position in shares of VEON by 1.8% during the third 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. Lingotto Investment Management LLP boosted its holdings in VEON by 1.0% in 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 purchasing an additional 53,807 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in VEON in the third quarter valued at approximately $2,069,000. 21.30% of the stock is currently 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.