VEON (NASDAQ:VEON) Sees Unusually-High Trading Volume – Should You Buy?

VEON Ltd. (NASDAQ:VEON) shares saw strong trading volume on Tuesday . 56,963 shares were traded during mid-day 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.

Wall Street Analyst Weigh In

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

VEON Trading Up 2.7 %

The company has a debt-to-equity ratio of 2.34, a current ratio of 0.81 and a quick ratio of 0.80. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 5.42 and a beta of 1.47. The business has a fifty day moving average price of $44.43 and a 200 day moving average price of $36.31.

VEON (NASDAQ:VEON) last released 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 81.71% and a positive return on equity of 36.48%.

Institutional Investors Weigh In On VEON

Several hedge funds have recently made changes to their positions in VEON. Diameter Capital Partners LP bought a new position in VEON during the fourth quarter valued at about $25,161,000. Lingotto Investment Management LLP grew its holdings in shares of VEON by 2.9% during the 4th quarter. Lingotto Investment Management LLP now owns 5,740,438 shares of the Wireless communications provider’s stock worth $230,192,000 after purchasing an additional 159,714 shares in the last quarter. Helikon Investments Ltd increased its position in shares of VEON by 5.0% during the fourth 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. Cyrus Capital Partners L.P. acquired a new position in shares of VEON in the fourth quarter valued at $2,994,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of VEON in the third quarter valued at $2,069,000. Institutional investors own 21.30% of the company’s stock.

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.