VEON (NASDAQ:VEON) Shares Cross Above 200-Day Moving Average – Time to Sell?

VEON Ltd. (NASDAQ:VEON)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $52.80 and traded as high as $55.40. VEON shares last traded at $54.64, with a volume of 82,727 shares.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VEON. Zacks Research upgraded shares of VEON from a “strong sell” rating to a “hold” rating in a report on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of VEON in a report on Monday, December 29th. Finally, Wall Street Zen raised VEON from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $60.00.

VEON Stock Down 1.9%

The business’s fifty day moving average price is $52.69 and its two-hundred day moving average price is $52.80. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.94 and a current ratio of 0.95. The firm has a market capitalization of $3.77 billion, a P/E ratio of 6.21 and a beta of 1.59.

VEON (NASDAQ:VEON) last issued its earnings results on Monday, November 10th. The Wireless communications provider reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.07). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. VEON had a return on equity of 58.72% and a net margin of 15.26%.

VEON declared that its board has authorized a stock repurchase program on Monday, November 17th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the Wireless communications provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On VEON

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VEON. Pictet Asset Management Holding SA grew its position in VEON by 77.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 225,643 shares of the Wireless communications provider’s stock worth $11,862,000 after acquiring an additional 98,618 shares during the period. JGP Global Gestao de Recursos Ltda. acquired a new stake in shares of VEON during the 4th quarter worth about $255,000. CWM LLC purchased a new stake in VEON in the 4th quarter valued at about $219,000. Diversify Advisory Services LLC increased its position in shares of VEON by 9.5% during the fourth quarter. Diversify Advisory Services LLC now owns 7,921 shares of the Wireless communications provider’s stock valued at $432,000 after acquiring an additional 685 shares during the last quarter. Finally, Personal CFO Solutions LLC raised its stake in shares of VEON by 7.0% in the 4th quarter. Personal CFO Solutions LLC now owns 4,097 shares of the Wireless communications provider’s stock valued at $215,000 after acquiring an additional 268 shares during the period. Institutional investors and hedge funds own 21.30% of the company’s stock.

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.