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

Shares of VEON Ltd. (NASDAQ:VEON - Get Free Report) saw an uptick in trading volume on Thursday . 203,423 shares were traded during trading, an increase of 92% from the previous session's volume of 106,200 shares.The stock last traded at $45.19 and had previously closed at $40.79.

Analyst Ratings Changes

A number of brokerages have issued reports on VEON. Wall Street Zen raised VEON from a "buy" rating to a "strong-buy" rating in a report on Sunday. Benchmark reissued a "buy" rating and set a $60.00 price objective on shares of VEON in a report on Monday, June 16th. Finally, Litchfield Hills Research raised VEON to a "strong-buy" rating in a report on Thursday.

VEON Price Performance

The stock has a fifty day moving average of $47.33 and a 200-day moving average of $44.39. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The firm has a market capitalization of $3.29 billion, a P/E ratio of 7.02 and a beta of 1.51.

VEON (NASDAQ:VEON - Get Free Report) last released its quarterly 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 return on equity of 36.24% and a net margin of 11.18%. The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $996.00 million.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Rhumbline Advisers raised its holdings in shares of VEON by 300.0% in the fourth quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider's stock valued at $29,000 after buying an additional 540 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in VEON in the fourth quarter worth about $58,000. GAMMA Investing LLC increased its position in VEON by 21.3% in the first quarter. GAMMA Investing LLC now owns 3,613 shares of the Wireless communications provider's stock worth $158,000 after purchasing an additional 635 shares during the period. BNP Paribas Financial Markets acquired a new stake in VEON in the fourth quarter worth about $163,000. Finally, JPMorgan Chase & Co. increased its position in VEON by 120.8% in the fourth quarter. JPMorgan Chase & Co. now owns 5,848 shares of the Wireless communications provider's stock worth $235,000 after purchasing an additional 3,200 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.