VEON (NASDAQ:VEON) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

VEON Ltd. (NASDAQ:VEON) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $50.99 and traded as high as $52.74. VEON shares last traded at $52.34, with a volume of 75,202 shares traded.

Analyst Ratings Changes

Several equities research analysts recently issued reports on VEON shares. Zacks Research cut VEON from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of VEON in a research report on Monday, December 8th. Finally, Wall Street Zen cut VEON from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. One 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.00.

VEON Price Performance

The firm has a market capitalization of $3.62 billion, a PE ratio of 5.95 and a beta of 1.58. The stock’s 50 day simple moving average is $50.17 and its two-hundred day simple moving average is $50.99. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.94 and a current ratio of 0.95.

VEON (NASDAQ:VEON) last posted its quarterly 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). VEON had a net margin of 15.26% and a return on equity of 58.72%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion.

VEON declared that its Board of Directors has authorized a stock repurchase plan on Monday, November 17th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the Wireless communications provider to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On VEON

Institutional investors and hedge funds have recently bought and sold shares of the company. Lingotto Investment Management LLP raised its position in shares of VEON by 1.2% during the 2nd quarter. Lingotto Investment Management LLP now owns 5,957,666 shares of the Wireless communications provider’s stock valued at $274,470,000 after buying an additional 70,659 shares during the period. Wellington Management Group LLP increased its stake in VEON by 22.3% during the first quarter. Wellington Management Group LLP now owns 647,096 shares of the Wireless communications provider’s stock worth $28,220,000 after acquiring an additional 117,945 shares during the last quarter. Panview Capital Ltd purchased a new stake in VEON in the third quarter valued at $22,481,000. Two Sigma Investments LP lifted its stake in shares of VEON by 31.5% in the 3rd quarter. Two Sigma Investments LP now owns 276,426 shares of the Wireless communications provider’s stock valued at $15,046,000 after purchasing an additional 66,153 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new position in shares of VEON during the 3rd quarter worth $15,005,000. 21.30% of the stock is currently owned by institutional investors and hedge funds.

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.