VEON (NASDAQ:VEON) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

VEON Ltd. (NASDAQ:VEON) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $27.99 and traded as high as $32.67. VEON shares last traded at $31.60, with a volume of 21,730 shares changing hands.

Analyst Ratings Changes

A number of analysts recently weighed in on VEON shares. StockNews.com upgraded VEON from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 5th. Benchmark began coverage on shares of VEON in a research report on Tuesday, November 12th. They set a “buy” rating and a $48.00 target price on the stock.

VEON Price Performance

The stock’s 50-day moving average price is $30.92 and its 200-day moving average price is $28.06. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.76 and a current ratio of 0.77.

VEON (NASDAQ:VEON) last posted its earnings results on Friday, August 30th. The Wireless communications provider reported $1.00 earnings per share for the quarter. The company had revenue of $1.03 billion for the quarter. VEON had a positive return on equity of 28.73% and a negative net margin of 77.48%.

Institutional Trading of VEON

Several institutional investors and hedge funds have recently modified their holdings of VEON. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of VEON during the 3rd quarter worth approximately $2,069,000. Citigroup Inc. boosted its stake in shares of VEON by 13.4% during the third quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock valued at $7,567,000 after acquiring an additional 29,350 shares during the last quarter. Helikon Investments Ltd raised its stake in VEON by 1.8% in the 3rd quarter. Helikon Investments Ltd now owns 2,788,955 shares of the Wireless communications provider’s stock valued at $84,840,000 after purchasing an additional 49,680 shares during the last quarter. Samson Rock Capital LLP acquired a new stake in shares of VEON during the 3rd quarter worth about $913,000. Finally, Lingotto Investment Management LLP lifted its stake in shares of VEON by 1.0% during the second quarter. Lingotto Investment Management LLP now owns 5,387,582 shares of the Wireless communications provider’s stock valued at $139,754,000 after buying an additional 53,807 shares during the period. Hedge funds and other institutional investors own 21.30% of the company’s stock.

VEON Company Profile

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.