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

Shares of VEON Ltd. (NASDAQ:VEON) saw an uptick in trading volume on Monday . 78,008 shares changed hands during mid-day trading, an increase of 37% from the previous session’s volume of 57,138 shares.The stock last traded at $43.84 and had previously closed at $44.99.

Analysts Set New Price Targets

Separately, Benchmark lifted their price target on shares of VEON from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, March 25th.

VEON Trading Up 1.3 %

The stock has a market capitalization of $3.27 billion, a P/E ratio of 7.71 and a beta of 1.47. The stock’s 50 day moving average price is $44.29 and its 200-day moving average price is $38.09. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.34.

VEON (NASDAQ:VEON) last announced its earnings results on Thursday, March 20th. The Wireless communications provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.06. The business had revenue of $998.00 million for the quarter, compared to analysts’ expectations of $1.01 billion. VEON had a positive return on equity of 36.48% and a negative net margin of 81.71%.

Hedge Funds Weigh In On VEON

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of VEON in the 3rd quarter valued at about $2,069,000. SBI Securities Co. Ltd. purchased a new stake in shares of VEON during the 4th quarter valued at $58,000. Helikon Investments Ltd boosted its position in shares of VEON by 5.0% in the 4th quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock worth $117,377,000 after purchasing an additional 138,149 shares in the last quarter. Samson Rock Capital LLP grew 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 during the last quarter. Finally, Lingotto Investment Management LLP increased its position in 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 valued at $230,192,000 after buying an additional 159,714 shares in the last quarter. Hedge funds and other institutional investors 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.