VEON (NASDAQ:VEON) Sees Unusually-High Trading Volume – Should You Buy?

Shares of VEON Ltd. (NASDAQ:VEON) saw an uptick in trading volume on Monday . 229,220 shares traded hands during trading, an increase of 137% from the previous session’s volume of 96,893 shares.The stock last traded at $52.53 and had previously closed at $52.00.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VEON. Weiss Ratings cut shares of VEON from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. Wall Street Zen downgraded shares of VEON from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 26th. Northland Securities began coverage on shares of VEON in a research note on Tuesday, June 9th. They set an “outperform” rating and a $70.00 price objective on the stock. Zacks Research cut shares of VEON from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 16th. Finally, Benchmark reaffirmed a “buy” rating on shares of VEON in a research note on Monday, June 15th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $72.00.

VEON Stock Up 1.5%

The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 7.06 and a beta of 1.64. The stock has a 50 day moving average of $52.54 and a 200 day moving average of $52.42. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 2.15.

VEON (NASDAQ:VEON) last released its quarterly earnings data on Thursday, April 30th. The Wireless communications provider reported $1.50 EPS for the quarter. VEON had a net margin of 11.65% and a return on equity of 44.43%. As a group, analysts expect that VEON Ltd. will post 6.99 earnings per share for the current fiscal year.

Institutional Trading of VEON

Several large investors have recently made changes to their positions in the business. Shah Capital Management raised its position in shares of VEON by 1.5% in the 4th quarter. Shah Capital Management now owns 4,895,252 shares of the Wireless communications provider’s stock valued at $257,343,000 after purchasing an additional 70,831 shares in the last quarter. Panview Capital Ltd purchased a new stake in shares of VEON in the third quarter worth $22,481,000. Pictet Asset Management Holding SA increased its stake in shares of VEON by 77.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 225,643 shares of the Wireless communications provider’s stock worth $11,862,000 after acquiring an additional 98,618 shares during the period. Dorsey Wright & Associates acquired a new stake in VEON during the 3rd quarter worth $1,273,000. Finally, JPMorgan Chase & Co. boosted its holdings in VEON by 84.2% in the third quarter. JPMorgan Chase & Co. now owns 102,827 shares of the Wireless communications provider’s stock valued at $5,597,000 after purchasing an additional 47,000 shares during the last quarter. 21.30% of the stock is 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.