VEON (NASDAQ:VEON) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

VEON Ltd. (NASDAQ:VEON - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $39.46 and traded as high as $44.25. VEON shares last traded at $42.63, with a volume of 109,863 shares.

Wall Street Analysts Forecast Growth

Separately, Benchmark lifted their price objective on VEON from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday, March 25th.

VEON Stock Performance

The stock has a market capitalization of $3.41 billion, a PE ratio of 8.05 and a beta of 1.39. The firm has a fifty day moving average price of $43.18 and a two-hundred day moving average price of $39.78. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.81 and a quick ratio of 0.80.

VEON (NASDAQ:VEON - Get Free Report) last posted its earnings results on Thursday, March 20th. The Wireless communications provider reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.06. The business had revenue of $998.00 million for the quarter, compared to the consensus estimate of $1.01 billion. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VEON. Lingotto Investment Management LLP boosted its holdings in VEON by 2.9% during the fourth quarter. Lingotto Investment Management LLP now owns 5,740,438 shares of the Wireless communications provider's stock worth $230,192,000 after buying an additional 159,714 shares in the last quarter. Helikon Investments Ltd increased its stake in shares of VEON by 5.0% in the 4th quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider's stock valued at $117,377,000 after purchasing an additional 138,149 shares in the last quarter. Diameter Capital Partners LP acquired a new position in VEON in the 4th quarter worth about $25,161,000. GAMMA Investing LLC grew its holdings in VEON by 5,190.9% in the first quarter. GAMMA Investing LLC now owns 157,563 shares of the Wireless communications provider's stock valued at $6,871,000 after purchasing an additional 154,585 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of VEON by 2.2% in the fourth quarter. Russell Investments Group Ltd. now owns 117,808 shares of the Wireless communications provider's stock valued at $4,724,000 after buying an additional 2,512 shares in the last quarter. 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.