VEON (NASDAQ:VEON) Sees Unusually-High Trading Volume Following Analyst Upgrade

VEON Ltd. (NASDAQ:VEON) saw an uptick in trading volume on Tuesday after Benchmark raised their price target on the stock from $48.00 to $56.00. Benchmark currently has a buy rating on the stock. 43,891 shares traded hands during trading, a decline of 13% from the previous session’s volume of 50,224 shares.The stock last traded at $43.73 and had previously closed at $44.96.

Institutional Trading of VEON

A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers grew its position in shares of VEON by 300.0% in the fourth quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider’s stock valued at $29,000 after purchasing an additional 540 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of VEON during the fourth quarter valued at approximately $58,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of VEON by 100.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440 shares of the Wireless communications provider’s stock valued at $58,000 after acquiring an additional 720 shares in the last quarter. R Squared Ltd purchased a new stake in shares of VEON during the fourth quarter worth approximately $101,000. Finally, JPMorgan Chase & Co. boosted its stake in 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 purchasing an additional 776 shares during the last quarter. Hedge funds and other institutional investors own 21.30% of the company’s stock.

VEON Stock Performance

The company has a market cap of $3.23 billion, a price-to-earnings ratio of 5.83 and a beta of 1.52. The firm’s 50 day simple moving average is $43.91 and its 200-day simple moving average is $35.63. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.80 and a current ratio of 0.81.

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

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.