VEON (NASDAQ:VEON) Sees Unusually-High Trading Volume – Still a Buy?

VEON Ltd. (NASDAQ:VEON) saw unusually-high trading volume on Tuesday . Approximately 74,343 shares changed hands during trading, an increase of 35% from the previous session’s volume of 55,022 shares.The stock last traded at $45.75 and had previously closed at $44.75.

Wall Street Analyst Weigh In

Separately, Benchmark lifted their price target on shares of VEON from $48.00 to $56.00 and gave the company a “buy” rating in a research report on Monday, March 3rd.

VEON Stock Performance

The firm has a market capitalization of $3.40 billion, a P/E ratio of 6.14 and a beta of 1.47. 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 business’s 50 day simple moving average is $44.35 and its two-hundred day simple moving average is $36.90.

Institutional Trading of VEON

Institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers increased its stake in VEON by 300.0% during the 4th quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider’s stock valued at $29,000 after purchasing an additional 540 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in VEON during the 4th quarter valued at about $58,000. Mirae Asset Global Investments Co. Ltd. increased its stake in VEON by 100.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440 shares of the Wireless communications provider’s stock valued at $58,000 after purchasing an additional 720 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of VEON by 41.5% in the third quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock worth $81,000 after acquiring an additional 776 shares during the period. Finally, R Squared Ltd bought a new stake in shares of VEON in the fourth quarter worth approximately $101,000. 21.30% of the stock is currently owned by institutional investors.

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.