VEON (NASDAQ:VEON) Sees Strong Trading Volume – Should You Buy?

Shares of VEON Ltd. (NASDAQ:VEON) saw an uptick in trading volume on Monday . 134,925 shares changed hands during trading, an increase of 126% from the previous session’s volume of 59,833 shares.The stock last traded at $38.69 and had previously closed at $38.91.

Wall Street Analyst Weigh In

Separately, Benchmark lifted their price target on shares of VEON from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, March 25th.

VEON Trading Down 2.3 %

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 company has a market cap of $2.81 billion, a PE ratio of 6.63 and a beta of 1.39. The stock has a 50 day moving average price of $44.10 and a 200 day moving average price of $38.36.

VEON (NASDAQ:VEON) last announced its quarterly earnings results on Thursday, March 20th. The Wireless communications provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%. The company had revenue of $998.00 million for the quarter, compared to analysts’ expectations of $1.01 billion.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of VEON during the third quarter valued at approximately $2,069,000. JPMorgan Chase & Co. boosted its stake in VEON by 41.5% during the third quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock worth $81,000 after buying an additional 776 shares during the period. GAMMA Investing LLC bought a new position in VEON during the 4th quarter valued at about $119,000. Helikon Investments Ltd lifted its stake in shares of VEON by 5.0% during the 4th quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock worth $117,377,000 after acquiring an additional 138,149 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of VEON during the fourth quarter valued at $101,000. Hedge funds and other institutional investors own 21.30% of the company’s stock.

About VEON

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.