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

VEON Ltd. (NASDAQ:VEON) shares saw an uptick in trading volume on Tuesday . 56,963 shares were traded 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.

Wall Street Analyst Weigh In

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

VEON Stock Performance

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 stock has a market cap of $3.00 billion, a P/E ratio of 5.42 and a beta of 1.47. The firm’s 50-day moving average is $44.43 and its two-hundred day moving average is $36.31.

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 negative net margin of 81.71% and a positive return on equity of 36.48%.

Institutional Trading of VEON

A number of institutional investors and hedge funds have recently made changes to their positions in VEON. VR Advisory Services Ltd bought a new position in shares of VEON in the 4th quarter valued at approximately $1,712,000. Tidal Investments LLC acquired a new position in VEON during the fourth quarter valued at approximately $484,000. J. Goldman & Co LP bought a new position in shares of VEON in the fourth quarter valued at approximately $2,084,000. Diameter Capital Partners LP acquired a new stake in shares of VEON in the fourth quarter worth $25,161,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of VEON in the fourth quarter worth $245,000. Institutional investors and hedge funds 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.