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

VEON Ltd. (NASDAQ:VEON - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 154,394 shares traded hands during trading, an increase of 82% from the previous session's volume of 84,977 shares.The stock last traded at $54.40 and had previously closed at $52.65.

Analyst Ratings Changes

Separately, Benchmark upped their price objective on shares of VEON from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday, March 25th.

VEON Price Performance

The stock's 50-day moving average price is $46.21 and its 200 day moving average price is $42.77. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 8.39 and a beta of 1.43. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The Wireless communications provider reported $1.36 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.53. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $996.00 million. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its position in VEON by 300.0% in the fourth quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider's stock worth $29,000 after purchasing an additional 540 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in VEON in the fourth quarter worth about $58,000. Mirae Asset Global Investments Co. Ltd. raised its position in VEON by 100.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440 shares of the Wireless communications provider's stock worth $58,000 after purchasing an additional 720 shares in the last quarter. R Squared Ltd acquired a new position in VEON in the fourth quarter worth about $101,000. Finally, JPMorgan Chase & Co. raised its position in VEON by 41.5% in the third quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider's stock worth $81,000 after purchasing an additional 776 shares in the last quarter. 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.