VEON (NASDAQ:VEON) Sees Unusually-High Trading Volume - What's Next?
VEON Ltd. (NASDAQ:VEON) experienced a significant increase in trading volume, with 134,925 shares traded, up 126% from the previous session. The stock is currently priced at $38.69, down 2.3%. Analysts have upgraded VEON's price target from $56.00 to $60.00, maintaining a "buy" rating. The company reported earnings of $0.98 per share, exceeding estimates, with a revenue of $998 million. Institutional investors hold 21.30% of VEON's stock, which provides various telecommunications services across several countries.
Shares of VEON Ltd. (NASDAQ:VEON - Get Free Report) saw unusually-high trading volume on Monday . Approximately 134,925 shares changed hands during 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 Upgrades and Downgrades
Separately, Benchmark upped their price objective on VEON from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Tuesday, March 25th.
Get Our Latest Research Report on VEON
VEON Stock Down 2.3 %
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 stock has a market capitalization of $2.81 billion, a P/E ratio of 6.63 and a beta of 1.39. The stock's 50-day moving average price is $44.10 and its two-hundred day moving average price is $38.36.
VEON (NASDAQ:VEON - Get Free Report) last issued its earnings results on Thursday, March 20th. The Wireless communications provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.06. VEON had a positive return on equity of 36.48% and a negative net margin of 81.71%. The firm had revenue of $998.00 million for the quarter, compared to analyst estimates of $1.01 billion.
Hedge Funds Weigh In On VEON
Several large investors have recently modified their holdings of VEON. Lingotto Investment Management LLP grew its stake in VEON by 2.9% in the 4th quarter. Lingotto Investment Management LLP now owns 5,740,438 shares of the Wireless communications provider's stock valued at $230,192,000 after buying an additional 159,714 shares in the last quarter. Helikon Investments Ltd boosted its holdings in shares of VEON by 5.0% in the fourth quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider's stock worth $117,377,000 after acquiring an additional 138,149 shares during the period. Diameter Capital Partners LP purchased a new stake in VEON during the 4th quarter worth about $25,161,000. GAMMA Investing LLC boosted its stake in VEON by 5,190.9% in the 1st quarter. GAMMA Investing LLC now owns 157,563 shares of the Wireless communications provider's stock worth $6,871,000 after purchasing an additional 154,585 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in VEON by 2.2% during the 4th quarter. Russell Investments Group Ltd. now owns 117,808 shares of the Wireless communications provider's stock valued at $4,724,000 after buying an additional 2,512 shares in the last quarter. Hedge funds and other institutional investors own 21.30% of the company's stock.
About VEON
(Get Free Report)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.
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