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

VEON Ltd. (NASDAQ:VEON) saw an uptick in trading volume on Wednesday . 69,727 shares changed hands during trading, a decline of 34% from the previous session’s volume of 106,242 shares.The stock last traded at $44.56 and had previously closed at $45.18.

Wall Street Analysts Forecast Growth

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 objective for the company.

VEON Trading Up 1.1 %

The firm has a market capitalization of $3.33 billion, a PE ratio of 7.10 and a beta of 1.51. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 2.66. The stock’s fifty day simple moving average is $35.91 and its 200 day simple moving average is $30.87.

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

Institutional Trading of VEON

Hedge funds and other institutional investors have recently modified their holdings of the company. Lingotto Investment Management LLP boosted its position in shares of VEON by 1.0% during the second quarter. Lingotto Investment Management LLP now owns 5,387,582 shares of the Wireless communications provider’s stock worth $139,754,000 after acquiring an additional 53,807 shares during the last quarter. Samson Rock Capital LLP bought a new position in VEON during the third quarter valued at $913,000. Helikon Investments Ltd lifted its holdings in shares of VEON by 1.8% in the 3rd quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock worth $84,840,000 after acquiring an additional 49,680 shares during the last quarter. Citigroup Inc. increased its position in VEON by 13.4% during the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock valued at $7,567,000 after purchasing an additional 29,350 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of VEON in the 3rd quarter valued at about $2,069,000. 21.30% of the stock is owned by hedge funds and other institutional investors.

VEON Company Profile

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.