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

Shares of VEON Ltd. (NASDAQ:VEON) saw strong trading volume on Monday . 229,220 shares were traded during mid-day trading, an increase of 137% from the previous session’s volume of 96,893 shares.The stock last traded at $52.53 and had previously closed at $52.00.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on VEON shares. Zacks Research lowered VEON from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 16th. Weiss Ratings downgraded shares of VEON from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Rothschild & Co Redburn set a $74.00 price objective on shares of VEON and gave the stock a “buy” rating in a research report on Thursday, April 16th. Northland Securities began coverage on VEON in a research report on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 price objective on the stock. Finally, Benchmark reaffirmed a “buy” rating on shares of VEON in a research report on Monday, June 15th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $72.00.

VEON Price Performance

The company has a market capitalization of $3.90 billion, a P/E ratio of 7.06 and a beta of 1.64. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.86 and a quick ratio of 0.85. The firm’s 50-day moving average is $52.54 and its 200-day moving average is $52.42.

VEON (NASDAQ:VEON) last issued its quarterly earnings data on Thursday, April 30th. The Wireless communications provider reported $1.50 EPS for the quarter. VEON had a return on equity of 44.43% and a net margin of 11.65%. Analysts predict that VEON Ltd. will post 6.99 EPS for the current fiscal year.

Institutional Investors Weigh In On VEON

Large investors have recently modified their holdings of the business. Osaic Holdings Inc. lifted its position in shares of VEON by 36.8% in the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock worth $66,000 after purchasing an additional 388 shares in the last quarter. Royal Bank of Canada grew its holdings in VEON by 184.3% during the fourth quarter. Royal Bank of Canada now owns 2,431 shares of the Wireless communications provider’s stock worth $128,000 after acquiring an additional 1,576 shares during the period. Truist Financial Corp increased its stake in shares of VEON by 5.1% during the fourth quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider’s stock worth $211,000 after acquiring an additional 195 shares during the period. Personal CFO Solutions LLC raised its position in shares of VEON by 7.0% during the 4th quarter. Personal CFO Solutions LLC now owns 4,097 shares of the Wireless communications provider’s stock worth $215,000 after purchasing an additional 268 shares during the period. Finally, CWM LLC acquired a new stake in VEON during the fourth quarter worth about $219,000. Hedge funds and other institutional investors own 21.30% of the company’s stock.

About VEON

VEON Ltd (NASDAQ: VEON) is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.

Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.