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

VEON Ltd. (NASDAQ:VEON) saw strong trading volume on Thursday . 160,880 shares changed hands during 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 Ratings Changes

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

VEON Trading Up 4.9 %

The company has a 50 day moving average of $41.53 and a two-hundred day moving average of $33.95. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.80 and a current ratio of 0.81.

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

Institutional Trading of VEON

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in VEON during the 3rd quarter worth about $2,069,000. Citigroup Inc. lifted its position 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 acquiring an additional 29,350 shares during the period. Helikon Investments Ltd lifted its position 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 acquiring an additional 138,149 shares during the period. Samson Rock Capital LLP lifted its position 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 acquiring an additional 6,000 shares during the period. Finally, JPMorgan Chase & Co. lifted its position 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 acquiring an additional 776 shares during the period. 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.