VEON (NASDAQ:VEON) Sees Unusually-High Trading Volume – Here’s What Happened

VEON Ltd. (NASDAQ:VEON) shares saw unusually-strong trading volume on Tuesday . Approximately 31,711 shares traded hands during mid-day trading, a decline of 9% from the previous session’s volume of 34,836 shares.The stock last traded at $38.25 and had previously closed at $38.14.

Analysts Set New Price Targets

Separately, Benchmark began coverage on shares of VEON in a report on Tuesday, November 12th. They set a “buy” rating and a $48.00 price target for the company.

VEON Price Performance

The stock has a 50-day moving average of $33.11 and a two-hundred day moving average of $29.56. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 2.66. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 5.91 and a beta of 1.55.

VEON (NASDAQ:VEON) last issued its earnings results on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share for the quarter. VEON had a positive return on equity of 28.73% and a negative net margin of 77.48%.

Institutional Trading of VEON

Several large investors have recently made changes to their positions in the stock. Helikon Investments Ltd grew its stake in shares of VEON by 8.1% in the second quarter. Helikon Investments Ltd now owns 2,739,275 shares of the Wireless communications provider’s stock worth $71,057,000 after acquiring an additional 206,200 shares during the last quarter. Lingotto Investment Management LLP raised its stake in shares of VEON by 1.0% in the 2nd quarter. Lingotto Investment Management LLP now owns 5,387,582 shares of the Wireless communications provider’s stock valued at $139,754,000 after buying an additional 53,807 shares in the last quarter. Samson Rock Capital LLP acquired a new position in VEON in the third quarter worth about $913,000. Citigroup Inc. boosted its stake in VEON by 13.4% in the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock valued at $7,567,000 after buying an additional 29,350 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of VEON in the 3rd quarter worth approximately $2,069,000. Institutional investors own 21.30% of the company’s stock.

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.