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

VEON Ltd. (NASDAQ:VEON) shares saw strong trading volume on Thursday . 160,880 shares changed hands during mid-day trading, an increase of 33% from the previous session’s volume of 120,886 shares.The stock last traded at $46.10 and had previously closed at $43.65.

Analyst Upgrades and Downgrades

Separately, Benchmark initiated coverage on VEON in a report on Tuesday, November 12th. They issued a “buy” rating and a $48.00 price objective for the company.

VEON Stock Up 4.9 %

The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.34. The business has a fifty day moving average of $41.53 and a two-hundred day moving average of $33.95.

VEON (NASDAQ:VEON) last released its quarterly 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 36.48% and a negative net margin of 81.71%.

Institutional Investors Weigh In On VEON

Large investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in VEON during the 3rd quarter worth approximately $2,069,000. Citigroup Inc. increased its stake in VEON by 13.4% during the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock worth $7,567,000 after buying an additional 29,350 shares in the last quarter. Helikon Investments Ltd increased its stake in VEON by 5.0% during the 4th quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock worth $117,377,000 after buying an additional 138,149 shares in the last quarter. Samson Rock Capital LLP increased its stake in VEON by 20.0% during the 4th quarter. Samson Rock Capital LLP now owns 36,000 shares of the Wireless communications provider’s stock worth $1,444,000 after buying an additional 6,000 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in VEON by 41.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock worth $81,000 after buying an additional 776 shares in the last quarter. 21.30% of the stock is currently 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.