VEON (NASDAQ:VEON) Sees Strong Trading Volume – Here’s What Happened

VEON Ltd. (NASDAQ:VEON) saw strong trading volume on Monday . 112,696 shares were traded during trading, an increase of 18% from the previous session’s volume of 95,691 shares.The stock last traded at $50.1450 and had previously closed at $49.50.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Benchmark reaffirmed a “buy” rating on shares of VEON in a research report on Friday, March 13th. Rothschild & Co Redburn set a $74.00 price target on shares of VEON and gave the company a “buy” rating in a research report on Thursday, April 16th. Zacks Research raised shares of VEON from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 19th. Finally, Wall Street Zen raised shares of VEON from a “hold” rating to a “buy” rating in a research report on Sunday. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, VEON currently has an average rating of “Buy” and an average price target of $67.00.

VEON Stock Performance

The firm has a 50-day moving average price of $50.93 and a 200 day moving average price of $51.55. The firm has a market capitalization of $3.73 billion, a PE ratio of 6.78 and a beta of 1.61. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 2.47.

VEON (NASDAQ:VEON) last released its quarterly earnings results on Saturday, February 14th. The Wireless communications provider reported ($0.44) EPS for the quarter. VEON had a return on equity of 47.86% and a net margin of 12.12%.The firm had revenue of $1.17 billion for the quarter. Research analysts expect that VEON Ltd. will post 8.56 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of VEON. NewEdge Advisors LLC purchased a new position in shares of VEON during the first quarter worth $400,000. Jones Financial Companies Lllp boosted its position in shares of VEON by 84,690.0% during the first quarter. Jones Financial Companies Lllp now owns 16,958 shares of the Wireless communications provider’s stock worth $740,000 after buying an additional 16,938 shares during the period. Jane Street Group LLC boosted its position in shares of VEON by 177.9% during the first quarter. Jane Street Group LLC now owns 16,374 shares of the Wireless communications provider’s stock worth $714,000 after buying an additional 10,483 shares during the period. JPMorgan Chase & Co. increased its position in shares of VEON by 267.0% during the second quarter. JPMorgan Chase & Co. now owns 55,827 shares of the Wireless communications provider’s stock worth $2,572,000 after acquiring an additional 40,614 shares during the period. Finally, Bank of America Corp DE increased its position in shares of VEON by 1.0% during the second quarter. Bank of America Corp DE now owns 53,571 shares of the Wireless communications provider’s stock worth $2,468,000 after acquiring an additional 538 shares during the period. 21.30% of the stock is currently owned by hedge funds and other institutional investors.

VEON Company Profile

VEON Ltd (NASDAQ: VEON) is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.

Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.