VEON (NASDAQ:VEON) Sees Unusually-High Trading Volume - What's Next?

VEON Ltd. (NASDAQ:VEON - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 511,184 shares traded hands during mid-day trading, an increase of 419% from the previous session's volume of 98,479 shares.The stock last traded at $38.19 and had previously closed at $38.27.

Wall Street Analysts Forecast Growth

Separately, Benchmark restated a "buy" rating and issued a $60.00 price objective on shares of VEON in a research report on Monday.

VEON Stock Up 0.1%

The firm's 50 day moving average price is $47.37 and its 200-day moving average price is $44.01. The company has a market cap of $2.96 billion, a P/E ratio of 6.32 and a beta of 1.51. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 2.17.

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 for the quarter, topping 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 company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $996.00 million.

Institutional Trading of VEON

A number of hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new position in VEON during the fourth quarter worth about $58,000. GAMMA Investing LLC lifted its stake in VEON by 5,190.9% during the first quarter. GAMMA Investing LLC now owns 157,563 shares of the Wireless communications provider's stock worth $6,871,000 after purchasing an additional 154,585 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of VEON in the 4th quarter valued at $163,000. Cyrus Capital Partners L.P. bought a new position in shares of VEON in the 4th quarter valued at $2,994,000. Finally, Bank of America Corp DE increased its stake in shares of VEON by 33.6% in the 4th quarter. Bank of America Corp DE now owns 26,468 shares of the Wireless communications provider's stock valued at $1,061,000 after purchasing an additional 6,659 shares during the last quarter. 21.30% of the stock is owned by institutional investors and hedge funds.

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.