VEON (NASDAQ:VEON) Sees Unusually-High Trading Volume – Time to Buy?

Shares of VEON Ltd. (NASDAQ:VEON) saw strong trading volume on Tuesday . 56,963 shares traded hands during trading, an increase of 8% from the previous session’s volume of 52,844 shares.The stock last traded at $38.46 and had previously closed at $40.00.

Analyst Upgrades and Downgrades

Separately, Benchmark raised their price target 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 Price Performance

The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 2.34. The stock has a market cap of $2.79 billion, a P/E ratio of 5.04 and a beta of 1.47. The business has a 50-day simple moving average of $44.44 and a 200 day simple moving average of $36.20.

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

Hedge Funds Weigh In On VEON

A number of hedge funds have recently bought and sold shares of VEON. Citigroup Inc. increased 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of VEON during the third quarter valued at approximately $2,069,000. JPMorgan Chase & Co. boosted its position in VEON by 41.5% in the third 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. GAMMA Investing LLC bought a new position in VEON in the 4th quarter valued at $119,000. Finally, Helikon Investments Ltd increased its position in shares of VEON by 5.0% during 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 last quarter. 21.30% of the stock is owned by hedge funds and other 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.