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

VEON Ltd. (NASDAQ:VEON) saw strong trading volume on Monday . 112,696 shares changed hands 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.

Wall Street Analysts Forecast Growth

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

VEON Stock Up 1.8%

The firm has a market cap of $3.73 billion, a PE ratio of 6.78 and a beta of 1.61. The business has a 50-day moving average price of $50.93 and a two-hundred day moving average price of $51.55. 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 posted its earnings results on Saturday, February 14th. The Wireless communications provider reported ($0.44) EPS for the quarter. The business had revenue of $1.17 billion during the quarter. VEON had a net margin of 12.12% and a return on equity of 47.86%. On average, equities research analysts expect that VEON Ltd. will post 8.56 EPS for the current year.

Hedge Funds Weigh In On VEON

Several large investors have recently bought and sold shares of the business. Truist Financial Corp increased its holdings in VEON by 5.1% in the fourth quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider’s stock valued at $211,000 after buying an additional 195 shares during the last quarter. Personal CFO Solutions LLC increased its holdings in VEON by 7.0% in the fourth quarter. Personal CFO Solutions LLC now owns 4,097 shares of the Wireless communications provider’s stock valued at $215,000 after buying an additional 268 shares during the last quarter. Tidal Investments LLC increased its holdings in VEON by 4.8% in the second quarter. Tidal Investments LLC now owns 7,288 shares of the Wireless communications provider’s stock valued at $336,000 after buying an additional 336 shares during the last quarter. Severin Investments LLC increased its holdings in VEON by 4.2% in the fourth quarter. Severin Investments LLC now owns 8,857 shares of the Wireless communications provider’s stock valued at $466,000 after buying an additional 353 shares during the last quarter. Finally, Osaic Holdings Inc. increased its holdings in VEON by 36.8% in the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock valued at $66,000 after buying an additional 388 shares during the last quarter. Hedge funds and other institutional investors own 21.30% of the company’s stock.

About VEON

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.