VEON (NASDAQ:VEON) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

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 trading hands.

Analyst Upgrades and Downgrades

VEON has been the subject of a number of research analyst reports. Benchmark assumed coverage on VEON in a report on Tuesday, November 12th. They set a “buy” rating and a $48.00 price objective for the company. StockNews.com upgraded VEON from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 5th.

VEON Price Performance

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

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

Institutional Trading of VEON

Several large investors have recently bought and sold shares of the company. Gamco Investors INC. ET AL acquired a new stake in VEON during the 1st quarter valued at $376,000. Gabelli Funds LLC lifted its stake in shares of VEON by 18.8% in the first quarter. Gabelli Funds LLC now owns 129,496 shares of the Wireless communications provider’s stock worth $3,109,000 after acquiring an additional 20,456 shares in the last quarter. Citigroup Inc. increased its holdings in VEON by 13.4% during the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock worth $7,567,000 after purchasing an additional 29,350 shares during the last quarter. Samson Rock Capital LLP acquired a new stake in VEON in the third quarter valued at $913,000. Finally, Helikon Investments Ltd boosted its stake in VEON by 1.8% during 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 acquiring an additional 49,680 shares during the last quarter. Institutional investors and hedge funds own 21.30% of the company’s stock.

About VEON

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.