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

Shares of VEON Ltd. (NASDAQ:VEON) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $26.66 and traded as high as $30.15. VEON shares last traded at $29.82, with a volume of 9,334 shares.

Analyst Ratings Changes

Separately, StockNews.com raised shares of VEON from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 5th.

VEON Stock Down 1.1 %

The company has a debt-to-equity ratio of 2.66, a current ratio of 0.77 and a quick ratio of 0.76. The business has a fifty day simple moving average of $28.80 and a 200-day simple moving average of $26.70.

VEON (NASDAQ:VEON) last released its quarterly earnings results on Friday, August 30th. The Wireless communications provider reported $1.00 earnings per share for the quarter. The firm had revenue of $1.03 billion for the quarter.

Hedge Funds Weigh In On VEON

A number of hedge funds have recently modified their holdings of VEON. Helikon Investments Ltd increased its position in VEON by 30.4% during the 1st quarter. Helikon Investments Ltd now owns 2,533,075 shares of the Wireless communications provider’s stock valued at $60,819,000 after purchasing an additional 591,060 shares during the period. Lingotto Investment Management LLP raised its stake in 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 worth $139,754,000 after buying an additional 53,807 shares during the last quarter. Wellington Management Group LLP lifted its holdings in VEON by 8.9% in the fourth quarter. Wellington Management Group LLP now owns 540,347 shares of the Wireless communications provider’s stock valued at $10,645,000 after buying an additional 44,013 shares during the period. Samson Rock Capital LLP bought a new stake in VEON during the third quarter valued at $913,000. Finally, Gabelli Funds LLC grew its holdings in VEON by 18.8% during the 1st 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 during the period. 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.