VEON (NASDAQ:VEON) Sees Strong Trading Volume - Here's Why

VEON Ltd. (NASDAQ:VEON - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 154,394 shares changed 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 raised their price target on shares of VEON from $56.00 to $60.00 and gave the stock a "buy" rating in a research report on Tuesday, March 25th.

VEON Trading Up 1.6%

The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 2.34. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 8.48 and a beta of 1.43. The company has a fifty day simple moving average of $46.07 and a 200-day simple moving average of $42.63.

VEON (NASDAQ:VEON - Get Free Report) last posted its earnings results on Thursday, May 15th. The Wireless communications provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.53. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%. The firm had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $996.00 million.

Institutional Trading of VEON

Institutional investors and hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new stake in shares of VEON during the fourth quarter worth $58,000. Samson Rock Capital LLP lifted its position in shares of VEON by 20.0% in the fourth quarter. Samson Rock Capital LLP now owns 36,000 shares of the Wireless communications provider's stock valued at $1,444,000 after buying an additional 6,000 shares during the last quarter. Cyrus Capital Partners L.P. bought a new position in VEON during the fourth quarter worth $2,994,000. Lingotto Investment Management LLP grew its stake in VEON by 2.9% in 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 during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of VEON by 100.0% during 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 during the period. 21.30% of the stock is owned by institutional investors.

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.