VEON (NASDAQ:VEON) Sees Large Volume Increase - Time to Buy?

VEON Ltd. (NASDAQ:VEON - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 134,925 shares were traded during mid-day 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.

Analyst Ratings Changes

Separately, Benchmark upped their target price on shares of VEON from $56.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, March 25th.

VEON Stock Down 1.1 %

The company has a market capitalization of $2.92 billion, a PE ratio of 6.88 and a beta of 1.39. 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 firm has a 50 day simple moving average of $43.40 and a two-hundred day simple moving average of $38.69.

VEON (NASDAQ:VEON - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The Wireless communications provider reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.06. The firm had revenue of $998.00 million for the quarter, compared to analyst estimates of $1.01 billion. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of VEON during the 3rd quarter worth approximately $2,069,000. SBI Securities Co. Ltd. purchased a new position in VEON in the fourth quarter worth $58,000. Helikon Investments Ltd lifted its holdings in VEON by 5.0% in the fourth quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider's stock valued at $117,377,000 after acquiring an additional 138,149 shares during the period. Samson Rock Capital LLP boosted its position in shares of VEON by 20.0% during the 4th quarter. Samson Rock Capital LLP now owns 36,000 shares of the Wireless communications provider's stock worth $1,444,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Lingotto Investment Management LLP grew its stake in shares of VEON by 2.9% during the 4th quarter. Lingotto Investment Management LLP now owns 5,740,438 shares of the Wireless communications provider's stock worth $230,192,000 after purchasing an additional 159,714 shares during the period. 21.30% of the stock is owned by hedge funds and other 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.