VEON (NASDAQ:VEON) Sees Strong Trading Volume – What’s Next?

VEON Ltd. (NASDAQ:VEON) saw strong trading volume on Tuesday . 24,915 shares traded hands during trading, a decline of 31% from the previous session’s volume of 36,260 shares.The stock last traded at $41.62 and had previously closed at $40.19.

Analyst Ratings Changes

Separately, Benchmark began coverage on shares of VEON in a research note on Tuesday, November 12th. They issued a “buy” rating and a $48.00 price target on the stock.

VEON Stock Down 0.1 %

The company has a market cap of $2.97 billion, a PE ratio of 6.32 and a beta of 1.55. The business has a fifty day simple moving average of $33.95 and a two-hundred day simple moving average of $29.97. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 2.66.

VEON (NASDAQ:VEON) last announced its quarterly earnings data 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 77.48% and a positive return on equity of 28.73%.

Hedge Funds Weigh In On VEON

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lingotto Investment Management LLP boosted its position in shares of VEON by 1.0% during the 2nd quarter. Lingotto Investment Management LLP now owns 5,387,582 shares of the Wireless communications provider’s stock valued at $139,754,000 after acquiring an additional 53,807 shares during the last quarter. Helikon Investments Ltd increased its holdings in shares of VEON by 1.8% during the 3rd quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock worth $84,840,000 after buying an additional 49,680 shares during the last quarter. Citigroup Inc. raised its position in shares of 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 buying an additional 29,350 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in VEON in the third quarter valued at approximately $2,069,000. Finally, Samson Rock Capital LLP purchased a new position in VEON in the third quarter worth approximately $913,000. Institutional investors and hedge funds own 21.30% of the company’s stock.

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.