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

Shares of VEON Ltd. (NASDAQ:VEON) saw an uptick in trading volume on Tuesday . 74,343 shares traded hands during trading, an increase of 35% from the previous session’s volume of 55,022 shares.The stock last traded at $45.75 and had previously closed at $44.75.

Wall Street Analysts Forecast Growth

Separately, Benchmark upped their price objective on shares of VEON from $48.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, March 3rd.

VEON Stock Up 2.2 %

The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 6.14 and a beta of 1.47. The firm has a 50 day moving average of $44.31 and a 200 day moving average of $36.70. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.34.

VEON (NASDAQ:VEON) last issued its 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%.

Hedge Funds Weigh In On VEON

Large investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in VEON in the 3rd quarter valued at about $2,069,000. SBI Securities Co. Ltd. bought a new stake in VEON during the fourth quarter worth $58,000. Citigroup Inc. boosted its position in VEON by 13.4% in 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 last quarter. Helikon Investments Ltd grew 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 increased its position in shares of VEON by 20.0% during 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 purchasing an additional 6,000 shares during the last quarter. 21.30% of the stock is currently 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.