VEON (NASDAQ:VEON) Sees Large Volume Increase - Still a Buy?

VEON Ltd. (NASDAQ:VEON - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 203,423 shares changed hands during mid-day 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.

Wall Street Analyst Weigh In

VEON has been the topic of several recent research reports. Benchmark reiterated a "buy" rating and issued a $60.00 price objective on shares of VEON in a research report on Monday, June 16th. Wall Street Zen downgraded shares of VEON from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st.

VEON Price Performance

The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 7.01 and a beta of 1.51. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 2.17. The company's 50 day simple moving average is $47.31 and its 200-day simple moving average is $44.21.

VEON (NASDAQ:VEON - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The Wireless communications provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.53. VEON had a net margin of 11.18% and a return on equity of 36.24%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $996.00 million.

Institutional Investors Weigh In On VEON

Several hedge funds have recently made changes to their positions in VEON. Rhumbline Advisers increased its stake in 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 purchasing an additional 540 shares during the last quarter. Lingotto Investment Management LLP boosted its position in shares of VEON by 2.9% in the fourth quarter. Lingotto Investment Management LLP now owns 5,740,438 shares of the Wireless communications provider's stock worth $230,192,000 after acquiring an additional 159,714 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of VEON in the 4th quarter valued at $58,000. JPMorgan Chase & Co. grew its stake in shares of VEON by 120.8% during the 4th quarter. JPMorgan Chase & Co. now owns 5,848 shares of the Wireless communications provider's stock valued at $235,000 after buying an additional 3,200 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of VEON by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 43,322 shares of the Wireless communications provider's stock worth $1,737,000 after buying an additional 1,254 shares during 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.