VEON (NASDAQ:VEON) Stock Price Crosses Above 200-Day Moving Average - Should You Sell?

Shares of VEON Ltd. (NASDAQ:VEON - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $50.04 and traded as high as $52.25. VEON shares last traded at $50.72, with a volume of 66,154 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on VEON. Wall Street Zen upgraded VEON from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 29th. Zacks Research raised VEON from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of VEON in a research note on Wednesday, October 8th. Finally, Litchfield Hills Research upgraded VEON to a "strong-buy" rating in a report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $60.00.

VEON Stock Down 1.4%

The firm has a 50-day moving average of $54.45 and a two-hundred day moving average of $50.04. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.57. The company has a market capitalization of $3.75 billion, a PE ratio of 3.72 and a beta of 1.58.

VEON (NASDAQ:VEON - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The Wireless communications provider reported $8.30 EPS for the quarter, beating the consensus estimate of $0.95 by $7.35. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.02 billion. VEON had a return on equity of 72.76% and a net margin of 23.75%. VEON has set its FY 2025 guidance at EPS.

Institutional Investors Weigh In On VEON

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. boosted its position in shares of VEON by 36.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider's stock worth $66,000 after purchasing an additional 388 shares during the period. Samson Rock Capital LLP purchased a new stake in VEON in the second quarter valued at approximately $138,000. GAMMA Investing LLC lifted its stake in VEON by 21.3% during the first quarter. GAMMA Investing LLC now owns 3,613 shares of the Wireless communications provider's stock worth $158,000 after purchasing an additional 635 shares in the last quarter. Burns Matteson Capital Management LLC purchased a new position in shares of VEON during the third quarter worth $211,000. Finally, Shilanski & Associates Inc. acquired a new stake in shares of VEON in the third quarter valued at $214,000. 21.30% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.