VEON (NASDAQ:VEON) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of VEON Ltd. (NASDAQ:VEON) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $52.45 and traded as high as $53.91. VEON shares last traded at $52.05, with a volume of 46,062 shares traded.

Analysts Set New Price Targets

Several brokerages have recently commented on VEON. Zacks Research lowered VEON from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 16th. Weiss Ratings downgraded VEON from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Wall Street Zen lowered shares of VEON from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 26th. Benchmark reaffirmed a “buy” rating on shares of VEON in a research report on Monday, June 15th. Finally, Rothschild & Co Redburn set a $74.00 target price on shares of VEON and gave the company a “buy” rating in a research report on Thursday, April 16th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $72.00.

VEON Price Performance

The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 7.00 and a beta of 1.64. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 2.15. The company’s fifty day moving average is $52.80 and its two-hundred day moving average is $52.45.

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

Hedge Funds Weigh In On VEON

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truist Financial Corp lifted its holdings in shares of VEON by 5.1% in the 4th quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider’s stock valued at $211,000 after purchasing an additional 195 shares during the last quarter. Personal CFO Solutions LLC grew its stake in VEON by 7.0% during the 4th quarter. Personal CFO Solutions LLC now owns 4,097 shares of the Wireless communications provider’s stock worth $215,000 after buying an additional 268 shares during the last quarter. Tidal Investments LLC grew its stake in VEON by 4.8% during the 2nd quarter. Tidal Investments LLC now owns 7,288 shares of the Wireless communications provider’s stock worth $336,000 after buying an additional 336 shares during the last quarter. Severin Investments LLC increased its position in VEON by 4.2% during the fourth quarter. Severin Investments LLC now owns 8,857 shares of the Wireless communications provider’s stock worth $466,000 after buying an additional 353 shares during the period. Finally, Osaic Holdings Inc. increased its position in VEON by 36.8% during the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock worth $66,000 after buying an additional 388 shares during the period. 21.30% of the stock is owned by institutional investors and hedge funds.

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.