VEON (NASDAQ:VEON) Shares Cross Above 200-Day Moving Average of $0.48

Shares of VEON Ltd. (NASDAQ:VEON – Get Rating) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.48 and traded as high as $0.74. VEON shares last traded at $0.73, with a volume of 1,391,965 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of VEON in a report on Monday, January 16th. They set a “strong-buy” rating on the stock.

VEON Stock Performance

The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 6.04. The stock’s fifty day moving average price is $0.60 and its 200 day moving average price is $0.48.

Shares of VEON are set to reverse split on the morning of Monday, March 6th. The 1-25 reverse split was announced on Monday, March 6th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, March 6th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. SG Americas Securities LLC boosted its holdings in shares of VEON by 145.0% in the second quarter. SG Americas Securities LLC now owns 585,071 shares of the Wireless communications provider’s stock worth $269,000 after buying an additional 346,277 shares during the last quarter. Exor Capital LLP raised its position in shares of VEON by 13.5% during the second quarter. Exor Capital LLP now owns 120,785,818 shares of the Wireless communications provider’s stock valued at $55,561,000 after buying an additional 14,354,043 shares during the last quarter. Solus Alternative Asset Management LP bought a new stake in shares of VEON during the second quarter valued at approximately $2,939,000. Vontobel Holding Ltd. bought a new stake in VEON in the first quarter worth $48,000. Finally, Jane Street Group LLC bought a new position in VEON during the second quarter valued at $45,000. 16.75% of the stock is currently owned by institutional investors.

VEON Company Profile

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VEON Ltd. is a holding company, which engages in the provision of connectivity and internet services. It operates through the following segments: Cornerstone Market, Growth Engine, and Frontier Market. The Cornerstone segment includes operations in Russia. The Growth Engines segment comprises businesses in Pakistan, Ukraine, Kazakhstan, and Uzbekistan.