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

VEON Ltd. (NASDAQ:VEON) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.14 and traded as high as $45.51. VEON shares last traded at $45.19, with a volume of 95,256 shares changing hands.

Wall Street Analyst Weigh In

Separately, Benchmark assumed coverage on VEON in a research report on Tuesday, November 12th. They set a “buy” rating and a $48.00 target price for the company.

VEON Stock Up 1.8 %

The business has a 50-day moving average of $38.22 and a 200-day moving average of $32.14. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.81 and a quick ratio of 0.80.

VEON (NASDAQ:VEON) last issued its quarterly earnings results on Friday, December 13th. The Wireless communications provider reported $3.00 earnings per share (EPS) for the quarter. VEON had a positive return on equity of 36.48% and a negative net margin of 81.71%.

Institutional Trading of VEON

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in VEON by 41.5% in the third quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider’s stock worth $81,000 after purchasing an additional 776 shares during the period. R Squared Ltd purchased a new position in shares of VEON during the fourth quarter valued at $101,000. GAMMA Investing LLC purchased a new position in shares of VEON during the fourth quarter valued at $119,000. Citigroup Inc. increased 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 buying an additional 29,350 shares during the period. Finally, Samson Rock Capital LLP purchased a new position in shares of VEON during the third quarter valued at $913,000. 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.