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

VEON Ltd. (NASDAQ:VEON)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 trading hands.

Wall Street Analysts Forecast Growth

Separately, Benchmark started coverage on VEON in a research note on Tuesday, November 12th. They issued a “buy” rating and a $48.00 price objective for the company.

VEON Trading Up 0.7 %

The firm has a 50-day moving average price of $38.70 and a 200-day moving average price of $32.36. 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 $3.37 billion, a PE ratio of 5.13 and a beta of 1.51.

VEON (NASDAQ:VEON) last released its quarterly earnings data 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 Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VEON. JPMorgan Chase & Co. grew its stake in shares of 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 acquiring an additional 776 shares during the last quarter. R Squared Ltd bought a new stake in shares of VEON during the 4th quarter valued at $101,000. GAMMA Investing LLC bought a new stake in VEON during the fourth quarter valued at about $119,000. Samson Rock Capital LLP purchased a new position in shares of VEON during the 3rd quarter valued at about $913,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in VEON in the 3rd quarter worth approximately $2,069,000. 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.