VEON (NASDAQ:VEON) Shares Pass Above 200 Day Moving Average – Should You Sell?

VEON Ltd. (NASDAQ:VEON) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 changing hands.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Zacks Research raised shares of VEON from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 8th. Wall Street Zen raised shares of VEON from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of VEON in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

VEON Price Performance

The business’s fifty day simple moving average is $52.69 and its 200-day simple moving average is $52.80. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 2.45. The firm has a market cap of $3.77 billion, a P/E ratio of 6.21 and a beta of 1.59.

VEON (NASDAQ:VEON) last posted its earnings results on Monday, November 10th. The Wireless communications provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.07). The business had revenue of $1.12 billion for 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 announced that its board has approved a stock buyback program on Monday, November 17th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the Wireless communications provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On VEON

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lingotto Investment Management LLP lifted 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 in the last quarter. Shah Capital Management lifted its holdings in VEON by 1.5% during the fourth quarter. Shah Capital Management now owns 4,895,252 shares of the Wireless communications provider’s stock valued at $257,343,000 after purchasing an additional 70,831 shares in the last quarter. Panview Capital Ltd purchased a new position in VEON during the third quarter valued at approximately $22,481,000. Two Sigma Investments LP boosted its position in shares of VEON by 31.5% in the third quarter. Two Sigma Investments LP now owns 276,426 shares of the Wireless communications provider’s stock worth $15,046,000 after purchasing an additional 66,153 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in shares of VEON in the third quarter worth $15,005,000. Hedge funds and other institutional investors own 21.30% of the company’s stock.

About VEON

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.